Sudeep Pharma IPO GMP In Focus As Subscription Enters Its Final Day

Sudeep Pharma Ltd., a manufacturer of pharmaceutical excipients, food-grade minerals, and speciality nutrition ingredients, which launched its initial public offering (IPO) on November 21, will conclude its subscription period on November 25.

According to BSE, investors bid for 5,38,15,050 shares against the 1,05,64,926 on offer, subscribing 5.09 times so far. The interest in the IPO is led by demand from non-institutional investors who have subscribed 12 times, followed by Retail investors who have subscribed 4.97 times so far.

As the subscription concludes today, investors are keeping a watch on the grey market premium for the mainboard issue, as it tops the 'business and finance' trending charts, indicating strong interest among investors.

Here’s a look at the key details about Sudeep Pharma IPO, including the latest GMP, price band, allotment date, where to verify allotment, listing details and more.

The latest grey market premium (GMP) for Sudeep Pharma IPO stood at Rs 86 as of 7:30 a.m. on November 25. With the upper end of the price band at Rs 593 per share, the GMP suggests an estimated listing price of Rs 679 per share. This implies an expected gain of 14.50% per share compared to the issue price.

The GMP for the mainboard offering has decreased by around 25% since the one recorded on Friday, when the IPO was launched.

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

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 must 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), which requires an investment of Rs 10,08,100.

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

The share allotment status for the IPO is expected to be finalised on Wednesday, November 26. Investors who bid for the issue can verify their share allotment status on the websites of BSE, NSE and MUFG Intime India.

Sudeep Pharma intends to utilise the net proceeds from its IPO for two main purposes. A portion 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.

Shares of Sudeep Pharma will be listed on the NSE and the BSE. The expected listing date for the IPO is November 28. The company is expected to initiate refunds and the credit of shares to investors’ demat accounts on Thursday, November 27.

Sudeep Pharma Ltd. was founded in 1989. The company operates in over 100 countries. It operates 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.

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.