Sudeep Pharma IPO Sees Frenzied Response, Closes with 94x Subscription
The initial public offering (IPO) of Sudeep Pharma concluded with an overwhelming response from investors, culminating in a subscription rate of 94 times the shares on offer. The three-day bidding process, which began on Friday, November 21, and closed today, attracted bids for a staggering 99 crore equity shares against the total issue size of over 1.05 crore shares, as confirmed by exchange data.
Breakdown of Investor Categories
Demand was particularly robust from institutional players. The Qualified Institutional Buyer (QIB) segment witnessed a monumental subscription of 213 times its allotted portion. Non-institutional investors (NIIs), a category that includes high-net-worth individuals, also showed strong interest, subscribing their quota 116 times. The retail investor segment, while more measured, demonstrated solid confidence with a subscription rate of 15.65 times.
IPO Details and Fund Utilization
The Sudeep Pharma IPO, with a total value of ₹895 crore, had a price band set between ₹563 and ₹593 per share. For retail investors, this translated to a minimum application amount of ₹14,825 for a lot of 25 shares at the upper end. The offer was a combination of a fresh issue of shares worth ₹95 crore and an Offer for Sale (OFS) of nearly 1.35 crore shares by promoters, aggregating ₹800 crore.
Proceeds from the fresh issue, to the tune of ₹75.81 crore, are earmarked for capital expenditure. This funding will primarily facilitate the procurement of machinery for the company's production line at its Nandesari Facility 1 in Gujarat. The remaining funds will be allocated for general corporate purposes.
Allotment, Listing, and Grey Market Signals
The allocation of shares is expected to be finalized on November 26. Successful investors can anticipate the stock to list on the bourses by next Friday, November 28.
In a strong indicator of initial market sentiment, the grey market premium (GMP) for Sudeep Pharma shares was reported at ₹85. This suggests that unofficial trading is happening at ₹678 per share, which would represent a 14.33% premium over the upper end of the IPO price band, hinting at a potentially strong listing.
About Sudeep Pharma
Sudeep Pharma has carved a significant niche for itself in the global pharmaceutical space. The company boasts an impressive international footprint, serving markets in the United States, South America, Europe, the Middle East, Africa, and the Asia-Pacific region. As of June 30, 2025, its prospectus highlighted a diverse clientele of over 1,100 customers. The company maintains longstanding relationships with several marquee clients, including industry giants like Pfizer Inc., Intas Pharmaceuticals, Mankind Pharma, Merck Group, Alembic Pharmaceuticals, and Aurobindo Pharma.
