Sudeep Pharma IPO In Focus Ahead Of Launch: Check GMP And Key Details
The GMP for the Sudeep Pharma IPO has gained by 40% in the last couple of days ahead of its Friday launch.
Sudeep Pharma Ltd., a manufacturer of pharmaceutical excipients, food-grade minerals, and speciality nutrition ingredients, will launch its initial public offering (IPO) tomorrow, on Friday, November 21.
With the subscription window set to open shortly, investors are keeping a watch on the grey market premium for the mainboard issue, which has started to top the 'business and finance' trending charts today.
Here’s a look at the key details about Sudeep Pharma IPO, including the latest grey market premium (GMP), offer size, price band and important dates.
Sudeep Pharma IPO GMP Today
The latest grey market premium (GMP) for Sudeep Pharma IPO stood at Rs 130 as of 9:00 a.m. on November 20, according to InvestorGain. With the upper end of the price band at Rs 593 per share, the GMP suggests an estimated listing price of Rs 723 per share. This implies an expected gain of 21.92% per share compared to the issue price.
Note: GMP does not represent official data and is based on speculation.
Sudeep Pharma IPO Key Details
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 subscription for the IPO closes on Tuesday, November 25. The share allotment status is expected to be finalised on the following day, Wednesday, November 26. The company is expected to initiate refunds and the credit of shares to investors’ demat accounts on Thursday, November 27.
The IPO listing date has been tentatively fixed as Friday, November 28. The company's shares will be listed on the NSE and the BSE.
Use Of Proceeds
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.
Sudeep Pharma: Business And Financials
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.
