Sudeep Pharma IPO GMP Hints At Strong Debut - Should You Apply?

Sudeep Pharma IPO GMP: Pharmaceutical manufacturer Sudeep Pharmaceuticals Ltd is set to launch its public issue on November 21. The bidding window for Sudeep Pharma IPO is scheduled to close on November 25. One day prior to the opening of the subscription window, the grey market premium of the company’s shares witnessed an uptick. While the grey market premium is an unofficial indicator of demand, a rise in GMP typically indicates investor interest in the public issue.

Ahead of the opening of the subscription window for Sudeep Pharma IPO and amid a jump in the GMP, here’s a look at some of the key details related to the company’s public issue, which investors should know before considering applying for the public issue:

Sudeep Pharma IPO GMP

Sudeep Pharma IPO GMP surged to Rs 130 from Rs 90 on November 20, according to multiple websites which monitor the movement of unlisted shares on the grey market. The GMP is currently indicating a strong listing for the company’s shares at Rs 723 apiece with potential listing gains of 21.92 per cent.

Sudeep Pharma IPO: Offer Size, Listing Date, Price Band

Sudeep Pharma IPO offer size aggregates to Rs 895 crore. The pharma company’s issue consists of a fresh issue of 1.6 million shares aggregating to Rs 95 crore and an offer for sale of 13.5 million shares amounting to Rs 800 crore.

Sudeep Pharma IPO price band has been fixed at Rs 563 to Rs 593 per share. The minimum lot size to apply for Sudeep Pharma IPO for retail investors has been set at 1 lot consisting of 25 shares aggregating to a minimum investment of Rs 14,825.

The basis of allotment for Sudeep Pharma IPO is expected to be determined on November 26. Once the share allotment status of Sudeep Pharma IPO is decided, successful bidders will receive shares of Sudeep Pharma IPO in their demat accounts on November 27. Sudeep Pharma IPO shares are slated to list on the BSE and NSE. Sudeep Pharma IPO listing date is November 28.

Sudeep Pharma IPO: Key Financials

Sudeep Pharma IPO Ltd’s total income for the June quarter of FY26 stood at Rs 130.08 crore, the company’s profit-after-tax stood at Rs 31.27 crore and the company’s net worth stood at Rs 688.32 crore.

Sudeep Pharma IPO’s total income increased by over 9 per cent to Rs 511.33 crore in the financial year ended March 31, 2025 compared to Rs 465.38 crore in the preceding fiscal. The company’s profit-after-tax for FY 2024-25 stood at Rs 138.69 crore increasing by over 4 per cent compared to a net profit of Rs 133.15 crore in FY 2023-24.

Sudeep Pharma IPO: Business Model

Sudeep Pharmaceutical Ltd is a manufacturer of excipients and specialty ingredients for the pharmaceutical, food and nutrition industries. Excipients refer to the inactive ingredients in a pharmaceutical product which are combined with the active pharmaceutical ingredient (API) to create the final dosage form.

The company uses its in-house technologies for manufacturing processes such as encapsulation, spray drying and granulation. The company claims in its red herring prospectus (RHP) that it has a presence in the domestic market and international markets such as the United States, South America, Europe, the Middle East, Africa, and Asia-Pacific. The company earns money through the sale of its products to companies in the pharmaceutical, food, and nutrition industries.

Sudeep Pharma IPO: Competitors

Sudeep Pharma mentioned in its red herring prospectus that its key competitors include Balchem, Jost Chemical, CP Kelco ApS (Part of JM Huber), DSM-Firmenich, Glanbia Nutritionals, Barentz and Dr. Paul Lohmann.

Sudeep Pharma IPO: Should You Apply?

Here’s a look at the strengths and risks mentioned by the pharmaceutical company which investors must consider before applying for the public issue:

Sudeep Pharma: Key Risks

Sudeep Pharma’ business faces these risks as per the company’s RHP:

• Sudeep Pharma generates a significant portion of its revenues from a limited number of customers. While no single customer contributed to over 15 per cent of the company’s revenue from operations in the last three fiscal years, the loss of any of its key customers can negatively affect the company’s business.

• The pharmaceutical company mentioned in its RHP that it operates four manufacturing facilities as of June 30, 2025, with a combined annual available manufacturing capacity of 72,246 metric tonnes of which three are located in Vadodara, Gujarat. Thus any significant social, political or economic disruption in the region can make the company incur capital expenditure and change its business strategy.

• The company mentioned in its red herring prospectus that it transacts a significant portion of its business in several other currencies and procures a significant portion of its raw materials from outside India. Thus the company incurs costs in currencies other than the Indian rupee, exposing it to exchange rate fluctuations.

Sudeep Pharma: Key Strengths

Here’s a look at some of the key strengths of Sudeep Pharma IPO according to the company’s RHP:

• Sudeep Pharma claims to have a market leadership with a diversified product portfolio. The company added that it operates in an industry which has high barriers to entry. According to a report by research firm Frost & Sullivan the company is a leading manufacturer of pharmaceutical, food, nutrition, and specialty ingredients, in terms of production volume.

• The company claims that it has a distinguished global customer base with long-standing relationships with key customers. The company has over 1,100 customers across multiple regions, including partnerships spanning several decades as of June 30, 2025.

• Sudeep Pharma claims to have strong research and development capabilities, as of June 30, 2025, the company operates two R&D facilities which have a dedicated team of 41 personnel. The facilities have advanced machinery including fluidized bed coaters, spray dryers, tablet compression machines, and blenders.

Sudeep Pharma IPO: Objective

Sudeep Pharma Ltd plans to use the money raised via the public issue for capital expenditure towards procurement of machinery for the production line located at Nandesari Facility. The company also seeks to use the proceeds of the public issue for general corporate purposes.