New Delhi, April 2 -- The shares of Sai Parenterals were off to a flattish start in the Indian stock market on Thursday, April 2, as they listed at a premium of up to 3% over the initial public offering (IPO) price.

Sai Parenterals share price listed at Rs.405 on the BSE, up 3.32% as against the IPO price of Rs.392. Meanwhile, on NSE, Sai Parenterals stock opened 2.04% higher at Rs.400.

The listing was better than expectations as signalled by the grey market premium (GMP). Sai Parenterals IPO GMP today was Rs.0, suggesting that the stock could list at par with the offer price.

Sai Parenterals' IPO had seen a tepid response for its initial share sale, as it garnered 1.08 times subscription.

The qualified institutional buyer (QIB) categ...