Sudeep Pharma IPO Gets Strong Start on Day 1 as Retail and NII Investors Rush In; GMP Hints at Nearly 19% Listing Gain
Sudeep Pharma IPO subscribed 1.42 times on Day 1 with strong retail and NII participation. GMP suggests up to 19% premium at listing. Check price band, subscription status, analyst views and key dates.
Sudeep Pharma IPO receives strong first-day subscription amid upbeat retail and NII demand; grey market premium hints at a solid listing.
The public issue of Sudeep Pharma Ltd, valued at ₹895 crore, witnessed a strong opening on Friday, successfully sailing through on the very first day of bidding. Led by robust participation from retail and non-institutional investors, the subscription momentum signals healthy demand ahead of its closing next week.
The IPO will remain open for subscription until Tuesday, November 25.
📊 Day 1 Subscription Snapshot
By the end of the first day, the IPO received bids for 1,50,09,425 equity shares against the 1,05,64,926 shares on offer, translating into a subscription of 1.42 times.
Category-wise response was as follows:
- Qualified Institutional Buyers (QIBs): 0.09x
- Non-Institutional Investors (NIIs): 3.00x
- Retail Investors: 1.50x
Market analysts say the enthusiastic retail and NII response highlights confidence in the company’s sector fundamentals and growth plans.
💹 Grey Market Premium Signals Strong Listing
The IPO is also making waves in the unofficial market. The Grey Market Premium (GMP) for Sudeep Pharma stands at ₹111 — indicating buyers are willing to pay an additional premium over the issue price.
If the current premium sustains, the stock may list around ₹704 per share, reflecting a potential 18.72% listing pop.
💰 IPO Price and Lot Details
- Price Band: ₹563–₹593 per share
- Minimum Lot Size: 25 shares
- Minimum Investment for Retail Applicants: ₹14,825 (at upper band)
- The IPO structure includes:
- Fresh Issue: ₹95 crore
- Offer for Sale (OFS): ₹800 crore (1.35 crore shares by promoters)
🏭 Use of Funds
According to regulatory filings, proceeds from the fresh issue will fund:
₹75.81 crore towards machinery procurement for the company’s Nandesari Facility in Gujarat
Balance to be deployed toward general corporate purposes
📅 Allotment & Listing Timeline
Allotment Finalisation: November 26
Expected Listing: Friday, November 28
The company has reserved:
50% for QIBs
15% for NIIs
35% for retail investors
🧾 Valuation & Analyst View
At the upper price band, the IPO values Sudeep Pharma at 48.3x FY25 earnings, with a post-issue market cap of about ₹6,697 crore, according to brokerage Anand Rathi.
The firm highlighted the company’s expansion into regulated markets like the US and Europe, its focus on advanced materials through its subsidiary SAMPL, and its growing exports via a direct sales model.
The brokerage has issued a “Subscribe – Long Term” rating, noting that while the IPO appears fully priced, long-term prospects look promising.
Meanwhile, Swastika Investmart recommended the offer primarily for aggressive or long-term investors (2–5 years), citing limited short-term upside at current valuations.
