Sudeep Pharma IPO Oversubscribed on Day One
Sudeep Pharma Ltd.’s initial public offer was oversubscribed on the first day, led by demand from non-institutional and retail investors. The IPO includes a mix of fresh issues of shares worth Rs 95 crore and an offer for sale of 1 crore shares by existing shareholders.
The price band for the issue is set at Rs 563-593 per share. Sujit Jaysukh Bhayani, Sujeet Jaysukh Bhayani HUF, Shanil Sujit Bhayani and Avani Sujit Bhayani are the promoter selling shareholders offloading stakes in the OFS segment.
IPO Details
- Open date: November 21
- Close date: November 25
- Price Band: Rs 563-593 per share
- Allotment date: November 26
- Listing date: November 28
- OFS: 1 crore
- Fresh issue: Rs 95 crore
- Minimum bid: Lot size of 13 shares
According to the latest data, the Sudeep Pharma IPO has been subscribed 1.4 times as of 5:00 p.m. on Friday, with Qualified Institutional Buyers (QIBs) subscribing 9%, Non-Institutional Investors (NIIS) subscribing 3 times, and Retail Individual Investors subscribing 1.5 times.
Grey Market Premium
Sudeep Pharma’s latest grey market premium fell to Rs 111 from Rs 122 apiece, as per Investorgain. The GMP indicates a listing price of 704 apiece, which implies a 19% upside from the issue price.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Company Financials
The proceeds from the fresh issue will be utilised for capital expenditure towards procurement of machinery for the company’s production line located at Nandesari facility.
Sudeep Pharma’s revenue from operations increased 14% to Rs 459.2 crore in fiscal 2024 from Rs 428.7 crore in fiscal 2023. Profit for the period more than doubled to Rs 133 crore for the financial year ended March 2024 as compared to Rs 62.3 crore in the year-ago period.
As of April 30, 2025, the company’s debt pile stood at Rs 110.3 crore. For more information on Indian stock market trends and IPO news, visit our website.
Investment Strategy
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