Sudeep Pharma IPO GMP: Here's What Grey Market Signals Ahead Of Nov. 21 Launch

Sudeep Pharma Ltd., a manufacturer of pharmaceutical excipients, food-grade minerals and specialty nutrition ingredients, is gearing up to launch its initial public offering (IPO) on Friday, Nov. 21.

With the subscription window set to open shortly, here’s a look at the Sudeep Pharma IPO, including the grey market premium (GMP), offer size, price band, important dates, and other key details.

The latest grey market premium (GMP) for Sudeep Pharma IPO stood at Rs 96 as of 9:00 a.m., Nov. 19, according to InvestorGain. With the upper end of the price band at Rs 593 per share, the GMP indicates an estimated listing price of Rs 689 apiece. This implies an expected gain of 16.19% per share compared to the issue price.

Note: GMP does not represent official data and is based on speculation.

The Sudeep Pharma IPO is a book-building issue of Rs 895 crore. It comprises a fresh issue of 16 lakh shares, aggregating Rs 95 crore, along with an offer-for-sale component of 1.35 crore shares, amounting to Rs 800 crore.

The IPO price band has been fixed at Rs 563 to Rs 593 per share. The lot size consists of 25 shares. Retail investors need to apply for at least a single lot size per application, amounting to a minimum investment of Rs 14,825, based on the upper limit of the issue price band of Rs 593 per share. For small non-institutional investors, the lot size is 14 lots (350 shares), amounting to a minimum investment of Rs 2,07,550. For big non-institutional investors, the minimum application size is 68 lots (1,700 shares), requiring an investment of Rs 10,08,100.

The Sudeep Pharma IPO subscription closes on Tuesday, Nov. 25, with tentative allotment expected the following day, Wednesday, Nov. 26. The company is expected to initiate refunds and the credit of shares to investors’ demat accounts on Thursday, Nov. 27.

The IPO listing date has been tentatively fixed as Friday, Nov. 28. Shares of the company will be listed on the NSE and the BSE.

ICICI Securities Ltd. is the book-running lead manager for the issue, while MUFG Intime India Pvt. Ltd. is serving as the registrar.

Sudeep Pharma Ltd. was founded in 1989. The company operates in over 100 countries. It runs six manufacturing facilities with a combined capacity of 50,000 MT, producing minerals such as calcium, iron, magnesium, zinc, potassium and sodium. Its portfolio includes more than 200 products, serving customers across the pharmaceutical, food and nutrition sectors.

Use Of Proceeds

Sudeep Pharma intends to use net proceeds from its IPO for two main purposes. A part of the funds will be used for capital expenditure, specifically to procure machinery for its production line at the Nandesari Facility I. The remaining proceeds are planned for general corporate purposes.

Financials

Sudeep Pharma Ltd. reported total income of Rs 511.33 crore for the financial year ended March 31, compared to Rs 465.38 crore in the previous fiscal. Profit after tax rose to Rs 138.69 crore in FY25 from Rs 133.15 crore in the preceding financial year.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.