The share allotments for Sudeep Pharma IPO will likely be finalised by today, November 26. IPO applicants can check their allotment status on the official websites of BSE and NSE, as well as the official site of its registrar, MUFG Intime India (formerly Link Intime India).
This comes after the Rs 895-crore initial public offering of the technology-led manufacturer of excipients and specialty ingredients for the pharmaceutical, food and nutrition industries closed for public bidding yesterday, after being subscribed nearly 94 times its offer size between November 21 and November 25.
According to IPO Watch, the unlisted shares of the company were trading with 14.33 percent GMP over the issue price.
The IPO was open for public bidding between November 21 and November 25. Retail investors could bid for a minimum of 25 shares, requiring an investment of Rs 14,825 at the upper price band, and in multiples thereafter. The allotments will likely be finalized by November 26, and the shares are scheduled to be listed on stock exchanges on November 28.
Sudeep Pharma aims to use Rs 75.81 crore from the fresh issue proceeds for capital expenditure towards procurement of machinery for its production line located at Nandesari Facility 1, Gujarat and the remained for general corporate purposes.
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