Sudeep Pharma IPO Opens For Subscription Today: GMP Indicates Potential Double-Digit Listing Gains

The initial public offering (IPO) of Sudeep Pharma Ltd opened for public subscription on November 21, and will close on November 25. The issue is receiving strong subscription from non-institutional investors (NIIs) and retail investors on the first day of bidding.

Meanwhile, the grey market premium (GMP) of Sudeep Pharma’s shares indicated potential double-digit gains on listing.   

Sudeep Pharma IPO Subscription Status: Day 1

So far on the first day of bidding, Sudeep Pharma IPO received bids for 10.13 million equity shares as against 10.56 million shares on offer, as of 2:18 PM. This translates to an overall subscription of 0.96 per cent.

The qualified institutional buyers (QIBs) are being offered 3.02 million shares, and the category has so far subscribed 0.08 times their quota.

The NIIs are being offered 2.26 million shares, and they have bid 1.87 times. Retail investors, who are being offered 5.28 million shares, booked the issue 1.07 times.

Sudeep Pharma IPO Details

Sudeep Pharma IPO Size

The company aims to raise Rs 895 crore through a combination of 1.60 million fresh equity shares worth Rs 95 crore and 13.49 million offer-for-sale shares.

Sudeep Pharma IPO Price Band

The company is offering its shares with a price band of Rs 563-593 per share.

Sudeep Pharma IPO Lot Size, Minimum Investment

The shares are being offered in lots of 25 shares. Retail investors, therefore, are required to invest a minimum Rs 14,825, based on the upper end of the price band.

Sudeep Pharma IPO Allotment, Listing Date

The share allotment is expected to be finalised on November 26, and shares are scheduled to be listed on NSE and BSE tentatively on November 28.

Sudeep Pharma IPO BRLMs, Registrar

ICICI Securities and IIFL Capital are the book running lead managers, and MUFG Intime India is the registrar to the issue.

Sudeep Pharma IPO Objectives

Of the Rs 95 crore net proceeds, the pharma company plans to allocate Rs 75.81 crore for procuring machinery for its production line located at Nandesari Facility I and the rest amount for general corporate purposes.

Sudeep Pharma IPO GMP Today

Sudeep Pharma IPO GMP in the unlisted market stood at Rs 111 per share over the issue price, according to websites that track such trades.

Given the current GMP and the upper end of the issue price, which is Rs 593, Sudeep Pharma’s shares are expected to list at Rs 704 per share, a potential listing gain of 18.72 per cent.

Sudeep Pharma IPO Anchor Investors

Ahead of the IPO launch, Sudeep Pharma raised Rs 268.40 crore from institutional investors in the anchor round. Of the total 4.53 million shares allocated to anchor investors, 3.60 million shares, about 79.64 per cent, were allocated to 14 domestic mutual funds, who applied through a total of 20 schemes.

SBI Healthcare Opportunities Fund, ICICI Prudential MNC Fund, Nippon India Flexi Cap Fund, and Aditya Birla Sun Life Small Cap Fund were among the major buyers, each acquiring 7.82 per cent of the anchor allocation by investing around Rs 21 crore each. Among other marquee investors were HDFC Manufacturing Fund, Axis Small Cap Fund, Motilal Oswal Large Cap Fund, Bandhan Small Cap Fund, and UTI Healthcare Fund.

Sudeep Pharma Financials

Sudeep Pharma reported a total income of 130.08 crore for the quarter ended June 30, 2025. Its profit after tax (PAT) came in at Rs 31.27 crore, and Ebitda stood at Rs 48.57 crore.

For the full financial year FY25, total income stood at Rs 511.33 crore, up from Rs 465.38 crore in FY24 and Rs 438.26 crore in FY23. PAT came in at Rs 138.69 crore, up from Rs 133.15 crore in FY24, and Rs 62.32 crore in FY23. Ebitda stood at Rs 199.28 crore, up from Rs 187.76 in FY24, and Rs 98.64 crore in FY23.

The company's net worth, as of June 30, 2025, stood at Rs 688.32 crore, tripling from Rs 226.29 crore reported in FY23. Its debt stood at Rs 135.97 crore, as of June 30, 2025.

What Does Sudeep Pharma Do

Sudeep Pharma Limited, incorporated in 1989, is a leading manufacturer of pharmaceutical excipients, food-grade minerals and specialty nutrition ingredients. The pharma company sells its products in more than 100 countries and operates six manufacturing facilities with a combined capacity of 50,000 MT.

Its product portfolio includes a wide range of mineral-based ingredients such as calcium, iron, magnesium, zinc, potassium and sodium compounds.

Its key strengths include market leadership in a high-entry-barrier industry, a diversified product portfolio, long-standing relationships with global customers, well-equipped and compliant manufacturing plants and a robust research and development framework.