Sudeep Pharma, one of the leading global manufacturers of mineral-based excipients and actives for pharmaceutical, food, and nutrition industries, has fixed the price band for its initial public offering (IPO) at Rs 563-593 per share, valuing itself close to Rs 6,700 crore at the higher end of the band.
The IPO is a combination of fresh issuance of shares worth Rs 95 crore and an offer-for-sale of 1.34 crore shares by promoters - the Bhayani family.
The company's Rs 895 crore IPO will open for the public on November 21 and close on November 25, while the anchor book will be launched for a day on November 20.
Investors can bid for a minimum of 25 equity shares and in multiples of 25 shares thereafter. The minimum investment by retail investors in the IPO would be Rs 14,825 for a lot of 25 shares and the maximum they can invest is Rs 1,92,725 for 13 lots of 325 shares at the upper price band.
Half of the offer size has been reserved for qualified institutional buyers, 15 percent for non-institutional investors, and the remainder 35 percent for retail investors.
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Sudeep Pharma offers mineral-based excipients and actives such as calcium, iron, magnesium, zinc, potassium, and sodium plans, and plans to spend Rs 75.8 crore of the fresh issue proceeds to procure machinery for its production line at Nandesari facility I. The remainder of the funds will be used for general corporate purposes, while the offer-for-sale money will be received by selling shareholders.
The company operates business through its three manufacturing facilities in Gujarat, and one in Ireland, and has longstanding relationships with marquee customers like Pfizer, Intas Pharmaceuticals, Mankind Pharma, Merck Group, Alembic Pharmaceutical, Aurobindo Pharma, Cadila Pharmaceutical, IMCD Asia, Micro Labs, and Danone SA.
Sudeep Pharma claims to be one of the largest producers of food-grade iron phosphate, used for infant and clinical nutrition as well as the food and beverage sectors, and had recorded a profit of Rs 31.3 crore on revenue of Rs 124.9 crore for the quarter ended June 2025.
The IPO share allotment will be finalised by November 26, while the trading in Sudeep Pharma shares will commence on the BSE and NSE effective November 28.
ICICI Securities, and IIFL Capital Services are acting as the merchant bankers for the Sudeep Pharma IPO.
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