Sudeep Pharma IPO Opens on November 21: Price Band, Key Dates, Financials & Details

Sudeep Pharma is set to open its ₹895 crores Initial Public Offer (IPO) on Friday, 21st November. The subscription will close on 25th November. The Book-built issue amounts to a fresh ₹95 crore and also entails offering of 1.34 crore equity shares on sale (OFS) with each having a face value of ₹1.

The price band for the IPO has been fixed at ₹563–₹593 per share, and investors can apply for a minimum lot of 25 shares. Allocation is divided as follows:

• 50% for Qualified Institutional Buyers (QIBs)
• 35% for retail investors
• 15% for high-net-worth individuals (HNIs)

The allotment is expected on November 26, and Sudeep Pharma will list on BSE and NSE on November 28.

Financial Performance

The company reported strong numbers for FY25, with revenue rising to ₹511.33 crore, up from ₹465.38 crore in FY24. Net profit increased marginally from ₹133.15 crore to ₹138.69 crore in the same period. Analysts note that the IPO may appeal to investors with a long-term focus, given the company’s steady financial trajectory.

Business Overview

Sudeep Pharma is a leading manufacturer of pharmaceutical excipients, including preservatives and colouring agents used in drug formulation and delivery. This IPO is the company’s first public issue, comprising:

• Fresh issue: 1.6 million shares worth ₹95 crore
• OFS: 1.35 crore shares worth around ₹800 crore

Use of Proceeds

As per the Red Herring Prospectus (RHP) filed with SEBI, Sudeep Pharma intends to use ₹75.81 crore from the fresh issue to purchase machinery for its production facility in Nandesari. Remaining funds will go toward general corporate purposes.

MUFG Intime India is the registrar, while ICICI Securities and IIFL Capital Services are acting as book-running lead managers for the issue.