Sudeep Pharma, a manufacturer of specialty chemicals and excipients, is set to launch its initial public offering (IPO) on Friday, November 21, 2025, combining a fresh issue of 16 lakh shares and an offer for sale (OFS) of nearly 1.35 crore shares. Ahead of the IPO, the grey market indicates strong investor interest, with shares trading at a premium of ₹130 on November 20, suggesting a potential listing price of around ₹723 per share, nearly 22% above the issue’s upper price band of ₹593.

The IPO price band is ₹563–₹593 per share, with 50% of the net issue reserved for qualified institutional buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors (NIIs). The lot size is 25 shares, making the minimum retail investment ₹14,825 at the upper price band, with a maximum of 13 lots (₹1,92,725). ICICI Securities and IIFL Capital Services are the book-running lead managers, and MUFG Intime India Pvt. Ltd. is the registrar.

The IPO allotment is expected to be finalized on November 26, with shares credited and refunds processed on November 27. Listing on the BSE and NSE is scheduled for November 28.

Proceeds from the IPO will be used for capital expenditure on machinery at the Nandesari Facility I and for general corporate purposes. Sudeep Pharma has a global presence in the US, Europe, South America, Middle East, Africa, and Asia-Pacific, serving pharmaceutical, food, and nutrition industries. The company’s profits have shown consistent growth, rising from ₹62.32 crore in FY23 to ₹138.69 crore in FY25, with revenue from operations reaching ₹502 crore in FY25. For the first quarter of FY26, profit was ₹30.81 crore on revenue of ₹124.92 crore.