SAI PARENTERAL'S LIMITED

IPO Objectives

1. Capacity expansion and upgradation of manufacturing facilities;

2. Establishment of a new R&D Centre;

3. Repayment / prepayment of certain outstanding borrowings;

4. Working capital requirements;

5. Investment in wholly owned subsidiary, Sai Parenterals Pte Limited (Singapore), in relation to the proposed acquisition of Noumed Pharmaceuticals Pty Limited (Australia); and

6. General corporate purposes