Sudeep Pharma, the technology-led manufacturer of excipients and specialty ingredients for the pharmaceutical, food and nutrition industries, has filed Red Herring Prospectus (RHP) with the Registrar of Companies on November 17 to launch its initial public offering (IPO) later this week on November 21.
The company will disclose the price band for its IPO on November 18.
The one-day IPO anchor book will be launched on November 20, while the offer will remain open for the public till November 25.
The IPO share allotment will be finalised by November 26, while Sudeep Pharma shares will be available for trading on the BSE and NSE effective November 28.
Gujarat-based Sudeep Pharma, one of the largest producers of food-grade iron phosphate for infant nutrition, clinical nutrition, and the food and beverage sectors in terms of production capacity, is set to raise Rs 95 crore by issuing fresh shares, while promoters will offload 1.34 crore equity shares via offer-for-sale (OFS).
The fresh issue size has not been changed, but the company increased its OFS portion from 1 crore shares planned for sale mentioned in the DRHP which was filed with the SEBI in June this year. The capital markets regulator approved the said IPO papers in October.
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Nuvama-backed Sudeep Pharma will spend Rs 78.8 crore of fresh issue proceeds for procurement of machinery for its production line at Nandesari facility I, and the remainder funds for general corporate purposes.
Promoters - the Bhayani family - hold 89.37 percent stake in the company, while the remainder 10.63 percent shares are owned by the public shareholders including Nuvama Crossover Opportunities Fund's 8.24 percent stake.
On the financial front, Sudeep Pharma has reported profit of Rs 31.3 crore on revenue of Rs 124.9 crore for the quarter ended June 2025. Profit in the year ended March 2025 stood at Rs 138.7 crore, increasing 4.1 percent from Rs 133.2 crore in previous fiscal. Revenue during same years rose 9.3 percent to Rs 502 crore, up from Rs 459.3 crore.
ICICI Securities, and IIFL Capital Services are acting as the merchant bankers for the Sudeep Pharma IPO.
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