New Delhi, March 27 -- The initial public offering (IPO) of Sai Parenteral's, a diversified pharmaceutical formulations company, which opened for subscription on March 24, will close today, March 26. By the end of Day 2, the issue remained weakly subscribed.

The IPO has fixed a price band of Rs.372 to Rs.392 per share. The allotment status for the issue is expected to be finalised on March 30, while the tentative listing date has been set as April 2.

Investor sentiment towards the IPO remained muted, as Sai Parenteral's grey market premium (GMP) stood at Rs.0 on March 26. This suggested that the stock was likely to debut at Rs.392, the same as the upper end of the IPO price band.

Grey market premium refers to the amount investors are w...