Preparing to go public via a ₹895 crore, the Sudeep Pharma mainboard IPO, is carrying a face value of ₹1. The issue is being raised through a book-building route and includes ₹95 crore of new capital plus an ₹800 crore OFS from current shareholders. The IPO subscription window runs from 21 November to 25 November 2025, after anchoring begins on 20 November 2025. Post-IPO, the shares will be listed on BSE and NSE.
Its pricing is pegged between ₹563 and ₹593, and retail investors can bid in lots of 25 shares. The allocation is split as: 50% to QIBs, 15% to NIIs, and 35% to retail. Let’s look at more Sudeep Pharma IPO details in this blog.
Sudeep Pharma IPO Details
This snapshot presents every major specification of the Sudeep Pharma IPO analysis in a clear, easy-to-scan format including its Sudeep Pharma IPO share price, etc.
| IPO opening date | November 21, 2025 |
| IPO closing date | November 25, 2025 |
| Face value | ₹1 per equity share |
| Price band | ₹563 to ₹593 each share |
| Issue price | Undisclosed |
| IPO lot size | 25 shares |
| Sale type | Fresh capital-cum-offer for sale |
| Fresh issue | 16,02,024 shares(summing up to ₹95.00Cr) |
| Offer for sale | 1,34,90,726 shares of ₹1(summing up to ₹800.00Cr) |
| Issue type | Bookbuilding IPO |
| Listing at | BSE & NSE |
| Total issue size | 1,50,92,750 shares (summing up to ₹895.00Cr) |
| Employee discount | NA |
| Minimum investment | Retail investment ₹14,825 (25 shares) |
| Retail discount | NA |
Sudeep Pharma IPO Timeline
The timeline below outlines each major event linked to the Sudeep Pharma IPO details in India.
| IPO open date | 21 November 2025 |
| IPO close date | 25 November 2025 |
| Provisional allotment | 26 November 2025 |
| Refund processing | 27 November 2025 |
| Transfer of shares into demat | 27 November 2025 |
| IPO listing | 28 November 2025 |
| Discontinuation date for UPI request validation | 25 November, 2025 (5 PM) |
Sudeep Pharma Grey Market Premium (GMP Today)
The latest Sudeep Pharma IPO gmp today on November 19, 2025 is ₹96. Using the upper price band of ₹593, the likely listing price comes to about ₹689. This results in an expected per-share gain/loss of 16.19%.
| Date | GMP (₹) | Estimated listing price (at ₹ | Estimated listing gain | Trend |
| 19-Nov-2025 | 96 | 689 | 16.19% | 🔽 Peak |
| 18-Nov-2025 | 93 | 686 | 15.68% | 🔽 Gain |
| 17-Nov-2025 | 0 | – | – | – |
Note: The GMP(Grey Market Premium) values are informal estimates that can swing without notice; compare them with verified financial reports.
Sudeep Pharma IPO Reservation
Below is the detailed reservation split assigned to each investor group for this IPO.
| Investor category | Shares offered |
| Qualified institutional buyers (QIB) | A minimal 50% share of the entire issue is set aside for NII (HNI) investors. |
| NII (HNI) shares offered | A limit of 15% of the net offer is dedicated to retail applicants. |
| Retail shares offered (RII) | Restricted to a 35% upper limit of the net issue. |
Sudeep Pharma IPO Core Performance Indicators
These performance indicators ranging across price to book, and more reflect Sudeep Pharma’s financial position across recent fiscal years.
| Indicator | FY23 | FY24 | FY25 |
| EPS (Basic) (₹) | 5.74 | 12.28 | 12.78 |
| RoNW (%) | 27.54 | 37.09 | 27.88 |
| NAV per share (₹) | 20.86 | 33.10 | 45.86 |
| Debt to equity ratio | 0.32 | 0.17 | 0.20 |
| PAT Margin (%) | 14.54 | 29.00 | 27.63 |
| EBITDA (in ₹ lakhs) | 9,864.2 | 18,775.5 | 19,928.1 |
| RoCE (%) | 28.96 | 40.65 | 29.53 |
Sudeep Pharma IPO Financials
Provided below is a year-wise look at major financial figures reported by Sudeep Pharma Limited.
| Particulars (₹ in lakhs) | FY23 | FY24 | FY25 |
| Revenue from Operations | 42,873.9 | 45,928.1 | 50,199.9 |
| Total Assets | 42,011.3 | 51,386.6 | 71,717.1 |
| Profit After Tax | 6,232.1 | 13,318.7 | 13,869.1 |
Sudeep Pharma IPO Lot Size
This table displays the complete lot size structure and minimum–maximum investment levels.
| Application | Lots | Shares | Amount (in ₹) |
| Retail (Min) | 1 | 25 | 14,825 |
| Retail (Max) | 13 | 325 | 1,92,725 |
| S-HNI (Min) | 14 | 350 | 2,07,550 |
| S-HNI (Max) | 67 | 1,675 | 9,93,275 |
| B-HNI (Min) | 68 | 1,700 | 10,08,100 |
Sudeep Pharma IPO Promoter Holding
Given in this section is the change in promoter holding as the IPO concludes.
| Percentage | |
| Promoter Holding Pre-Issue | 89.37% |
| Promoter Holding Post-Issue | 76.15% |
Sudeep Pharma IPO Anchor Investors Details
The table provides an easy rundown of the Sudeep Pharma IPO anchor allocation details.
| Bid Date | November 20, 2025 |
| Shares Offered | Up to 60% of the QIB Portion |
| Anchor Portion Size | Yet to be announced |
Sudeep Pharma IPO Prospectus
Access the official IPO documents and regulatory filings through the links provided below.
About Sudeep Pharma Ltd
Sudeep Pharma Limited, incorporated in 1989 and headquartered in Vadodara, India, is a leading manufacturer of excipients and specialty ingredients for the pharmaceutical, food, and nutrition industries. Led by Managing Director & Chairman Mr. Sujit Jaysukh Bhayani, the company specialises in mineral-based products like iron phosphate and calcium carbonate. Serving over 1,100 customers globally, across approximately 100 countries. The company operates four state-of-the-art manufacturing facilities (three in India and one in Ireland) and two R&D centers, supported by a dedicated workforce of 740 permanent employees. Sudeep Pharma focuses scientific precision and regulatory excellence, holding key certifications including USFDA, WHO-GMP, and FSSC, to deliver high-quality, customised solutions that enhance product stability and bioavailability.
| Book running lead managers | ICICI Securities Limited, IIFL Capital Services Limited |
| Registrar to the offer | MUFG Intime India Private Limited |
Objectives of the Sudeep Pharma IPO
Shown here are the intended applications of the net proceeds from the Sudeep Pharma IPO.
| Objects of the issue | Allocation (₹ in Cr) |
| Capital expenditure for machinery procurement for the Nandesari Facility I production line | 75.81 |
| General corporate purposes | 19.19 |
| Total Net Proceeds | NA |
Strength Of Sudeep Pharma IPO
These strengths showcase the core pillars of Sudeep Pharma’s business:
- Market leadership in niche categories: A recognised manufacturer of pharmaceutical, food, nutrition, and specialty ingredients, particularly known for its mineral-based products and iron phosphate portfolio.
- Wide and diverse product range: Offers over 100 products, including mineral salts, micronutrient premixes, and encapsulated ingredients sold under established brands like Novelcap and Lipoboost.
- Strong international customer base: Serves more than 1,100 clients across nearly 100 in countries, including well-known companies such as Pfizer, Intas Pharmaceuticals, Mankind Pharma, and Danone.
- Advanced manufacturing ecosystem: Operates four facilities, three in Vadodara and one in Ireland with certifications from USFDA, WHO-GMP, FSSC, and EXCiPACT, ensuring consistent high-quality standards.
- Focused research and innovation: Runs two R&D centres with a team of 41 professionals working on technologies such as encapsulation, spray drying, and liposomal preparations to support product development.
Risk of Sudeep Pharma IPO
Discussed below in detail are the major risks associated with the company:
- High client concentration: The top 10 customers contributed over 42% of revenue during the three months ended June 30, 2025, making the business sensitive to the loss of major clients.
- Dependence on the major business segments: Around 66% of revenue comes from the pharmaceutical, food, and nutrition segment, exposing the company to fluctuations within this category.
- Regional manufacturing concentration: Three of the company’s four production units and one R&D centre are located in Vadodara, increasing exposure to regional disruptions.
- Significant reliance on exports: Exports make up 58.68% of revenue, creating vulnerability to tariff changes, regulatory shifts, and trade barriers in markets like the U.S. and Europe.
- Raw material procurement risks: The company relies on external suppliers without long-term exclusive contracts, increasing the risk of price instability and supply issues.
- Challenges in new business expansion: The company is entering battery chemicals (iron phosphate for EV batteries) through its subsidiary SAMPL, where execution delays or failure may impact performance.
- Pending litigation: Ongoing criminal and civil cases involving the company, promoters, or directors could divert management time and affect business operations.
Conclusion
From its leadership in specialty ingredients to its strategic expansion plans, now you know what the Sudeep Pharma IPO holds for you and can better assess if it aligns with your portfolio goals. As the company gears up to raise ₹895 crore for its planned growth purposes, understanding these core strengths and risks will be vital to making an informed investment decision when the issue goes live.
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Sudeep Pharma IPO FAQ‘s
The Sudeep Pharma IPO is a mainboard offering worth ₹895 crore, combining a fresh issue of ₹95 crore and an offer for sale of ₹800 crore by current shareholders. The price band is ₹563–₹593, and the shares have a face value of ₹1 each.
To apply for Sudeep Pharma IPO via Zerodha, log in to Console, go to the IPO section, find the Sudeep Pharma IPO, enter bid quantity (minimum one lot of 25 shares), choose the price, and confirm UPI payment before the application closes on November 25, 2025.
The IPO opens for subscription on November 21, 2025, and closes on November 25, 2025. Investors can apply during these dates through authorized trading platforms or brokerages.
The minimum lot size for Sudeep Pharma IPO is 25 shares. Retail investors need to invest at least ₹14,825 for one lot at the lower price band.
Open a demat and trading account, review the Sudeep Pharma IPO prospectus, decide on your investment, place a bid for at least one lot (25 shares) within the price band using your broker’s IPO portal, and confirm payment using the UPI method before the closing date.
Provisional allotment is expected on November 26, 2025. Investors will receive allotment status updates via the registrar’s website, and refunds for unallotted shares will be processed on November 27, 2025.
The Sudeep Pharma IPO is scheduled to list on the BSE and NSE on November 28, 2025, after shares are credited to demat accounts and refunds are issued to non-allottees.
