Vadodara-based Sudeep Pharma’s IPO continued to receive a strong response from investors on the second day, November 24.
The IPO has been subscribed more than 2.5 times its total offer size so far.
The company manufactures excipients and specialty ingredients used in pharmaceutical, food, and nutrition industries.
According to NSE data, investors have placed bids for about 26 million shares, while only 10.6 million shares are available.
Subscription Details
Non-institutional investors (NIIs): Subscribed over 5 times their allotted quota
Retail investors: Subscribed nearly 3 times their quota
Qualified institutional buyers (QIBs): Subscribed only 10% so far
Sudeep Pharma IPO GMP, Price Band & Key Dates
Grey Market Premium (GMP)
According to Investorgain, the company’s unlisted shares are trading at a 19.39% premium over the IPO price in the grey market.
This is slightly lower than yesterday’s 20.40% GMP, but still indicates expectations of a strong listing. IPO Watch also reports the GMP at 19.39%.
Price Band and Investment Details
Price band: ₹563–₹593 per share
Issue open dates: November 21 to November 25
Retail investment (minimum lot size 25 shares at upper band): ₹14,825
Important Dates
IPO allotment: Likely on November 26
Listing date: November 28
Use of Funds and IPO Structure
Utilisation of Fresh Issue
₹75.81 crore will be used to purchase new machinery for the Nandesari Facility-1 in Gujarat
The remaining amount will go toward general corporate purposes
About the IPO
Sudeep Pharma aims to raise ₹895 crore, which includes:
₹95 crore as fresh issue
₹800 crore through an offer-for-sale (OFS) by promoters
Total size: 1.3 crore shares
