Sudeep Pharma Ltd. has filed its preliminary papers with the Securities and Exchange Board of India to raise funds via an initial public offering.
The public offer will include a mix of fresh issues of shares worth Rs 95 crore and an offer for sale of 1 crore shares by existing shareholders, according to the draft red herring prospectus that was filed on Tuesday.
Sujit Jaysukh Bhayani, Sujeet Jaysukh Bhayani HUF, Shanil Sujit Bhayani and Avani Sujit Bhayani are the promoter selling shareholders offloading stakes in the OFS segment.
ICICI Securities Ltd. and IIFL Capital Services Ltd. are the book-running lead managers for the issue and MUFG Intime India Pvt. will be the registrar of the issue.
The proceeds from the fresh issue will be utilised for capital expenditure towards procurement of machinery for the company's production line located at Nandesari facility.
The equity shares are proposed to be listed on the National Stock Exchange of India and BSE Ltd.
About Sudeep Pharma
Sudeep Pharma is a technology-driven manufacturer specialising in excipients and specialty ingredients for the pharmaceutical, food and nutrition industries. The company has developed technologies, including encapsulation, spray drying and granulation.
With a significant global footprint, Sudeep Pharma serves markets across the US, South America, Europe, West Asia, Africa and Asia-Pacific. As per the DRHP, the company is recognised as one of the largest producers of food-grade iron phosphate, which is widely used in infant nutrition, clinical nutrition, and the food and beverage sectors.
Sudeep Pharma Financials
Sudeep Pharma's revenue from operations increased 14% to Rs 459.2 crore in fiscal 2024 from Rs 428.7 crore in fiscal 2023. Profit for the period more than doubled to Rs 133 crore for the financial year ended March 2024 as compared to Rs 62.3 crore in the year-ago period.
As of April 30, 2025, the company's debt pile stood at Rs 110.3 crore.
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