Sudeep Pharma has announced the price band for its IPO at ₹563 to ₹593 per equity share of Re 1 face value. The IPO subscription opens on Friday, November 21, and closes on Tuesday, November 25, while the allocation to anchor investors will take place on Thursday, November 20. The lot size is 25 equity shares, with further multiples of 25 shares.

IPO Allocation

• Qualified Institutional Buyers (QIBs): Up to 50% of the public issue
• Non-Institutional Investors (NIIs): At least 15%
• Retail Investors: At least 35%

The basis of allotment is expected to be finalized on Wednesday, November 26, with refunds initiated on Thursday, November 27, and shares credited to demat accounts on the same day. The shares are likely to be listed on BSE and NSE on Friday, November 28.

IPO Size and Use of Funds

• The IPO aims to raise ₹95 crore through a fresh issue, while promoters will sell 1.34 crore equity shares via an offer-for-sale (OFS).
• Fresh issue proceeds of ₹78.8 crore will be used for machinery purchase for the production line at the Nandesari facility I, with remaining funds for general corporate purposes.

The Bhayani family holds 89.37% stake, while public shareholders hold 10.63%, including 8.24% by Nuvama Crossover Opportunities Fund. ICICI Securities and IIFL Capital Services are the merchant bankers for the IPO.

Company Overview

Sudeep Pharma, based in Gujarat, is a leading manufacturer of food-grade iron phosphate used in infant nutrition, clinical nutrition, and food & beverage industries. The company operates six production sites with a combined capacity of 50,000 MT, producing minerals such as calcium, iron, magnesium, zinc, potassium, and sodium.

The company offers over 200 products and has strong R&D capabilities, including in-house laboratories and pilot-scale facilities focused on mineral salts and excipients.

Financial Performance

• Quarter ending June 2025: Profit of ₹31.3 crore on revenues of ₹124.9 crore
• FY 2024–25: Profit of ₹138.7 crore, up 4.1% from ₹133.2 crore; revenue ₹502 crore, up 9.3% from ₹459.3 crore

Sudeep Pharma’s IPO is expected to attract investors looking for a growth-oriented company in the pharmaceutical and nutrition sectors.