Subscribe for Sudeep Pharma Ltd IPO; Geojit Financial Services

Geojit Financial Services, Sudeep Pharma Ltd

Sudeep Pharma Ltd. (SPL), established in 1989, is a technology-led manufacturer of excipients and specialty ingredients serving the pharmaceutical, food, and nutrition industries. With a global footprint spanning the U.S., South America, Europe, the Middle East, Africa, and Asia-Pacific, SPL operates three manufacturing facilities in Vadodara, Gujarat, and, following its acquisition of NSS ( Nutrition supplies and Services) in 2025, an additional facility in Ireland. As of June 30, 2025, the company’s total annual production capacity stands at 72,246 metric tonnes. The global pharmaceutical excipients and specialty food ingredients markets together are projected to grow steadily, with excipients rising from USD 10.4bn in 2024 to about USD13bn by 2029 (CAGR ~4.7%), and specialty food ingredients expanding from USD 85bn in 2024 to USD 118bn by 2029 (CAGR ~6.8%).

Valuation and Outlook

We therefore assign a SUBSCRIBE rating for investors with a medium- to long-term investment horizon.