Strong Debut on NSE and BSE
Sudeep Pharma’s shares made an impressive debut on the Indian stock markets on Friday, November 28. On the National Stock Exchange (NSE), the stock listed at ₹730 per share, representing a 23.10% premium over its IPO issue price of ₹593. By 11:13 am, the stock had surged further to ₹792.30, marking an 8.53% increase.
On the Bombay Stock Exchange (BSE), Sudeep Pharma started trading at ₹733.95, reflecting a 23.77% rise from its IPO price.
Investor Gains Per Lot
Each lot of the Sudeep Pharma IPO consisted of 25 shares. Investors who received allotments earned an estimated ₹18,250 per lot, marking a profitable start for early shareholders.
IPO Details and Fund Utilisation
The initial public offering aimed to raise ₹895 crore, with ₹95 crore coming from new equity shares and ₹800 crore from an Offer for Sale (OFS). Promoters including Sujit Jaysukh Bhayani, Shanil Sujit Bhayani, Sujeet Jaysukh Bhayani HUF, and Avani Sujit Bhayani participated in the OFS.
The net proceeds from the fresh issue are planned to be used for procurement of machinery and general corporate purposes. The company highlighted in its red herring prospectus that the listing would also enhance its brand visibility, market presence, and create a public market for its equity shares in India.
Oversubscribed IPO
Sudeep Pharma’s IPO witnessed overwhelming investor interest, being subscribed 93.72 times. A total of 99,01,00,150 equity shares were bid for, against 1,05,64,926 shares on offer.
Breakdown of subscription by investor category:
| Category | Shares Reserved | Shares Bid For | Subscription Multiple |
|---|---|---|---|
| Qualified Institutional Buyers (QIBs) | 30,18,550 | 64,31,88,450 | 213.08 |
| Non-Institutional Investors (NIIs) | 22,63,913 | 26,42,40,450 | 116.72 |
| Retail Individual Investors (RIIs) | 52,82,463 | 8,26,71,250 | 15.65 |
| Total | 1,05,64,926 | 99,01,00,150 | 93.72 |
Anchor Investors
Before the IPO, Sudeep Pharma secured ₹268.5 crore from anchor investors, including SBI Mutual Fund, ICICI Prudential MF, HDFC MF, Nippon India MF, WhiteOak Capital MF, Motilal Oswal MF, Quant MF, Bandhan MF, Aditya Birla Sun Life MF, UTI MF, Edelweiss MF, SBI Life Insurance, and Tata AIA Life Insurance.
About Sudeep Pharma
Sudeep Pharma Ltd is a technology-driven manufacturer specializing in pharmaceutical excipients and specialty ingredients. The company is committed to advancing the global healthcare ecosystem through innovative solutions and high-quality products.
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