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Kolkata: Sudeep Pharma IPO had a decent first day of bidding -- it was subscribed 1.43 times overall. The issue was subscribed 1.53 times in the retail category, 0.09 times in QIB (ex anchor) category and 3.01 times in the NII category by the end of November 21. The company intends to mobilise Rs 895 crore through a combination fresh issue of 0.16 crore shares aggregating to Rs 95 crores and an OFS part to raise Rs 800 crores.
Sudeep Pharma is headquartered in Vadodara of Gujarat and is strongly rooted in the business of manufacturing pharmaceutical excipients, food-grade minerals and specialty nutrition ingredients. It has customers spread over more than 100 countries. It also had significant success with the anchor round of investment when it managed to raise Rs 268.5 crore from anchor investors, the list of which featured names such as SBI Mutual Fund (MF), HDFC MF, ICICI Prudential MF, Nippon India MF, WhiteOak Capital MF, Aditya Birla Sun Life MF, Motilal Oswal MF, Quant MF, Bandhan MF, UTI MF, Edelweiss MF, Tata AIA Life Insurance and SBI Life Insurance. The company allocated 45,27,823 equity shares at Rs 593 per share to anchor investors.
It counts Pfizer Inc., Mankind Pharma, Merck Group, Aurobindo Pharma, Cadila Pharmaceutical, IMCD Asia Pte Ltd and Danone SA are among the long-standing customers of the company. The company will use the proceeds of the sale of fresh shares (Rs 75.81 crore) for purchase of machinery and general corporate purposes.
According to investorgain, in early morning of Nov 22, the Sudeep Pharma IPO GMP was recorded at Rs 115. At this level it indicated a probable listing gain of 19.39%. The GMP stood at Rs 93 on Nov 18 and Rs jumped to Rs 130 on Nov 19 before reaching Rs 122 on Nov 20. However, it must be remembered that GMP is an unofficial indicator, is extremely volatile and cannot guarantee listing gain or loss.
Sudeep Pharma IPO price band is Rs 563-593. For a retail investor the minimum investible lot has of 25 shares for which he/she has to pay an application money of Rs 14,825 based on the upper end of the price band. On the other hand, the minimum investible lot for sNII investors is 350 shares, while the minimum lot for bNII category of investors is 1,700 shares. ICICI Securities is the lead manager and MUFG Intime India the registrar for the issue.
IPO closes: Nov 25, 2025
Allotment: Nov 26
Refund: Nov 27
Credit of shares to demat: Nov 27
Listing: Nov 28
Cut-off time for UPI mandate confirmation: 5 pm on Nov 25
(Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, precious metals, commodity, REITs, INVITs, any form of alternative investment instruments and crypto assets.)
