Sudeep Pharma was incorporated on December 21, 1989. The company is a technology-driven manufacturer of excipients and specialty ingredients for the pharmaceutical, food, and nutrition sectors. It uses in-house technologies like encapsulation and spray drying to innovate and serves both domestic and global markets, including the US, Europe, and Asia-Pacific
| Bidding Dates |
|---|
| 21 Nov 2025 - 25 Nov 2025 |
| Subscription |
|---|
| 93.72x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,075 | 1 | 13 | 25 | 15.1 M | ₹563 - ₹593 | 76.15 % | ₹8497.2 M - ₹8950.0 M | RHP DOC |
Sudeep Pharma IPO SUBSCRIPTION STATUS
25 Nov '25Sudeep Pharma IPO overall subscription rate was 93.72 times the total available shares
Sudeep Pharma IPO retail subscription rate was 15.65 times in the retail segment
Sudeep Pharma IPO non-institutional investor subscription rate was 116.72 times in the non-institutional investor category
Sudeep Pharma IPO Qualified Institutional Bidder subscription rate was 213.08 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
25 Nov 2025 (Day 3) | 15.65x | 116.72x | 213.08x |
24 Nov 2025 (Day 2) | 4.97x | 12x | 0.13x |
21 Nov 2025 (Day 1) | 1.5x | 3x | 0.09x |
Sudeep Pharma FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| Q1FY26 | 124.9 | 31.3 | -5.5 | -20.0 | 38.9% |
| FY25 | 502.0 | 138.7 | 48.7 | -15.2 | 39.7% |
| FY24 | 459.3 | 133.2 | 65.7 | 15.8 | 40.9% |
| FY23 | 428.7 | 62.3 | 48.4 | 1.3 | 23.0% |
Sudeep Pharma IPO SUBSCRIPTION STATUS DETAILS
Sudeep Pharma had 15.1 M shares on offer
Sudeep Pharma IPO offer price was in the range ₹563 - ₹593
Sudeep Pharma IPO minimum Investment was ₹14075
Sudeep Pharma IPO issue size was ₹ 8497.2 M - ₹ 8950.0 M
Sudeep Pharma had a minimum lot size of 25 Shares per application
Sudeep Pharma NUMBER OF SHARES ON OFFER
Sudeep Pharma IPO IMPORTANT DATES
| Issue Open Date | 21 Nov 2025 |
| Issue close Date | 25 Nov 2025 |
| Allotment Date | 26 Nov 2025 |
| Refund Date | 27 Nov 2025 |
| Demat Account Credit Date | 27 Nov 2025 |
| Listing Date | 28 Nov 2025 |
| Listing on Exchange(s) | NSE and BSE |
| Sudeep Pharma Allotment Status | Exchange/ Registrar |
Sudeep Pharma IPO subscription opened on 21 Nov 2025, and closed on 25 Nov 2025
IPO allotment for Sudeep Pharma was finalized on Wednesday, 26 Nov 2025
IPO listing for Sudeep Pharma was on NSE and BSE on Friday, 28 Nov 2025
Sudeep Pharma IPO LISTING GAINS
| Issue Price (adjusted) | 593.0 |
| Listing Open Price | 730.0 |
| Listing Close Price | 774.1 |
| Listing Gain% | 23.1% |
| Current Gain% | 61.5% |
Sudeep Pharma Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sudeep Pharma Ltd. | 957.6 | 10815.4 | 59.2 | 1.9 | 16 | 19.6 | 14.7 | 670.8 | 31.2 | 172.9 | 24.7 | 16.2 | 31.7 |
| Sun Pharmaceutical Industries Ltd. | 1945 | 466670.7 | 38.6 | 2.3 | 7.8 | 13.7 | 10.6 | 60433.8 | 10.8 | 11479.4 | 5 | 50.4 | 16.6 |
| Divi's Laboratories Ltd. | 8275 | 219675.3 | 75.1 | 2.8 | 19.6 | 15.3 | 12.8 | 11067 | 14 | 2568 | 17.2 | 110.2 | 26.8 |
| Torrent Pharmaceuticals Ltd. | 4924 | 187293.2 | 85.9 | 9.6 | 11.9 | 25.8 | 4.9 | 13886.2 | 20.3 | 2163.4 | 13.2 | 57.3 | 8.9 |
| Cipla Ltd. | 1463.8 | 118253.6 | 35.1 | -0.9 | 4.2 | 11.3 | 9.1 | 29044.6 | 2.2 | 3879.2 | -26.4 | 41.7 | -37.5 |
| Zydus Lifesciences Ltd. | 1114.2 | 112114.6 | 22.2 | 2.3 | 4.1 | 18.6 | 9.6 | 27657.9 | 17.6 | 5040 | 11.4 | 50.1 | 9.6 |
Sudeep Pharma INFORMATION ON IPO ISSUE
About Sudeep Pharma
Sudeep Pharma was incorporated on December 21, 1989. The company is a technology-driven manufacturer of excipients and specialty ingredients for the pharmaceutical, food, and nutrition sectors. It uses in-house technologies like encapsulation and spray drying to innovate and serves both domestic and global markets, including the US, Europe, and Asia-Pacific
Object of the Issue
- Capital expenditure towards procurement of machinery for their production line located at Nandesari Facility I
- General corporate purposes
Sudeep Pharma - PROMOTERS
| Name |
|---|
| Sujit Jaysukh Bhayani |
| Shanil Sujit Bhayani |
| Avani Sujit Bhayani |
| Riva Resources Private Limited |
| Sujeet Jaysukh Bhayani HUF |
| Bhayani Family Trust |
Sudeep Pharma - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Sujit Jaysukh Bhayani | Managing Director & Chairman |
| Shanil Sujit Bhayani | Whole-time Director |
| Ajay Shrirang Kandelkar | Whole-time Director |
| Raghunandan Sathyanarayan Rao | Independent Director |
| Reshma Suresh Patel | Independent Director |
| Samaresh Parida | Independent Director |
| Sujit Gulati | Independent Director |
Sudeep Pharma Book Running Lead Manager
ICICI Securities Limited
sudeep.ipo@icicisecurities.com
IIFL Capital Services Limited
sudeep.ipo@iiflcap.com
Sudeep Pharma Registrar to the Offer
MUFG Intime India Private Limited
sudeeppharma.ipo@in.mpms.mufg.com
Sudeep Pharma Strengths
R&D capabilities
The company’s R&D capabilities set it apart, focusing on particle engineering, nutrient bioavailability, and shelf-life enhancement. As of December 31, 2024, it operates one R&D center with 37 staff and advanced equipment to drive innovation and product development
Advanced manufacturing facilities
The company uses advanced automation and proprietary technologies like encapsulation, spray drying, and granulation to ensure consistent, high-quality production. Its in-house testing facility conducts rigorous quality checks to meet strict standards, especially in critical and infant nutrition sectors
Global customer base
The company serves over 1,100 global customers across pharmaceuticals, food, nutrition, and FMCG sectors, including 14 Fortune 500 firms. Key clients like Pfizer, Merck, and Danone reflect long-standing relationships, with the top five customers averaging over 7 years of association
Sudeep Pharma Risks
Regulatory inspections
The company must comply with global regulatory and quality standards, including those of USFDA, WHO-GMP, and ISO. Non-compliance could lead to audits, sanctions, or facility shutdowns, affecting operations and product approvals
Depend on vendors
The company depends on third-party suppliers for key raw materials like mineral calcium and sorbic acid, procured via purchase orders without long-term or exclusive contracts
Demand
The company relies on demand forecasts to plan production and inventory. Errors in estimating demand may lead to either product shortages and lost business or excess inventory and potential losses
IPO FAQs
This IPO consists of an offer for sale of up to Rs 800.0 crore, of 13,490,726 shares. It also consists of a fresh issue of Rs 95.0 crore.
The promoters of the company are Sujit Jaysukh Bhayani, Shanil Sujit Bhayani, Avani Sujit Bhayani, Riva Resources Private Limited, Sujeet Jaysukh Bhayani HUF and Bhayani Family Trust.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 563.0 - 593.0.
The IPO application opens on Nov 21, 2025 and closes on Nov 25, 2025.
The minimum lot size for the IPO is 25. The maximum lot size for the IPO is 325.
For all category investors, the minimum application amount for this IPO is Rs. 14,075.0, the maximum value for this IPO is Rs 192,725.0.
This IPO will be allotted on Nov 26, 2025.
The refund will be credited to your account on Nov 27, 2025.
The allotted shares will be credited to your demat on Nov 27, 2025.
Sudeep Pharma Ltd.’s shares listed on the stock exchanges on Nov 28, 2025.