Sudeep Pharma IPO
ListedMainboardOpens 21 November 2025Closes 25 November 2025
Sudeep Pharma is a technology-led manufacturer of **excipients** and **specialty mineral ingredients** used globally in pharmaceutical, food, and nutrition industries. The company utilizes in-house technologies such as…
Sudeep Pharma is a technology-led manufacturer of **excipients** and **specialty mineral ingredients** used globally in pharmaceutical, food, and nutrition industries. The company utilizes in-house technologies such as encapsulation, spray drying, and liposomal preparations to produce high-value mineral-based ingredients (calcium, iron, zinc, etc.). Sudeep Pharma is one of the largest producers of food-grade iron phosphate globally and is one of the few companies with a USFDA-approved facility for manufacturing mineral-based ingredients. It serves over 1,100 customers worldwide, including major names like **Pfizer, Merck, Danone, Intas, and Mankind**.
Show moreShow less
Key ratios
As per RHP / filingsTimeline
IPO Opens
21 Nov
IPO Closes
25 Nov
Allotment
26 Nov
Listing
28 Nov
IPO Timeline & Listing Details
| Event | Date |
|---|---|
| IPO Open Date | 21 November 2025 |
| IPO Close Date | 25 November 2025 |
| Allotment Date | 26 November 2025 |
| Listing Date | 28 November 2025 |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Retail (Min) | 1 | ₹14,825 |
Retail (Max)Just less than ₹2,00,000 | 13 | ₹1,92,725 |
SHNI (Min)Just above ₹2,00,000 | 14 | ₹2,07,550 |
SHNI (Max)Below ₹10,00,000 | 67 | ₹9,93,275 |
BHNIAbove ₹10,00,000 | 68 | ₹10,08,100 |
IPO Objectives
- Capital expenditure towards procurement of machinery for the production line located at Nandesari Facility I (₹75.81 Cr).
- General corporate purposes.
Strengths
- The company has a market leadership position with a diversified portfolio in the high-barrier, regulated niche of pharma excipients and specialty ingredients.
- It boasts a distinguished global customer base of over 1,100 customers, including major pharmaceutical companies like Pfizer and Merck.
- The manufacturing facilities are globally compliant (USFDA, BRC, WHO-GMP, etc.), which creates a strong barrier to entry.
- The business has strong research and development capabilities focused on advanced technologies like encapsulation and liposomal preparations.
- It shows high profitability with an EBITDA Margin of 39.7% and RoNW of 27.88% in FY25, placing it among high-performing specialty chemical players.
Weaknesses
- The post-IPO P/E of 53.55x is considered aggressively priced, leaving limited room for short-term listing gains.
- The ₹800 Cr Offer for Sale (OFS) means the majority of the proceeds will go to the selling shareholders, not for the company's growth.
- The company is facing working capital strains due to a significant increase in net working capital days, indicating weak cash conversion.
- Revenue Concentration: The top 10 customers contribute over 35% of revenues, increasing vulnerability to client-level slowdowns.
- The business has exposure to FX sensitivity and geopolitical developments, as exports account for a significant portion of sales (59-68%).
Financial Performance
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets (₹ Cr.) | 922.26 | 717.17 | 513.87 | 420.11 |
| Revenue (₹ Cr.) | 130.08 | 511.33 | 465.38 | 438.26 |
| PAT (₹ Cr.) | 31.27 | 138.69 | 133.15 | 62.32 |
| Net Worth (₹ Cr.) | 688.32 | 497.53 | 359.07 | 226.29 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Sudeep Pharma Ltd. | 12.93 | 53.55 | 27.88% | 688.32 |
| Anupam Rasayan | 4.19 | 60.16 | 4.73% | 3,082 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.09x | 0.13x | 213.08x |
| NII | 3.01x | 12.03x | 116.72x |
| S-HNI | 3.53x | 14.11x | 80.33x |
| B-HNI | 2.75x | 10.99x | 134.91x |
| RII | 1.53x | 5.02x | 15.65x |
| Total | 1.43x | 5.13x | 93.71x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 30,18,553 | 64,31,88,450 | 38,141.08 |
| NII | 22,63,912 | 26,42,36,925 | 15,669.25 |
| Small NII | 7,54,637 | 6,06,17,225 | 3,594.6 |
| Big NII | 15,09,275 | 20,36,19,700 | 12,074.65 |
| RII | 52,82,462 | 8,26,61,200 | 4,901.81 |
| Total | 1,05,64,927 | 99,00,86,575 | 58,712.13 |
Company Details
- Sudeep Pharma Ltd.
- 129/1/A, GIDC Estate, Nandesari, Vadodara, Gujarat - 391340
- +91 265 284 0656
- cs.sudeep@sudeepgroup.com
- https://www.sudeeppharma.com/
Registrar Details
- MUFG Intime India Pvt.Ltd.
- +91-22-4918 6270
- sudeeppharma.ipo@in.mpms.mufg.com
- https://linkintime.co.in/Initial_Offer/public-issues.html
Frequently Asked Questions
See live numbers on GMP, Subscription, and Allotment pages.
Sudeep Pharma IPO News & Updates
Follow the latest updates for Sudeep Pharma IPO, including grey market moves and allotment news.
Sudeep Pharma IPO IPO Pages
Open related pages for this IPO: details, GMP, subscription, allotment, review, FAQ, registrar, timeline, and news.
Sudeep Pharma IPO Details
Issue size, price, financials, and company info
Sudeep Pharma IPO GMP
Live grey market premium and listing estimate
Sudeep Pharma IPO Subscription
QIB, NII, Retail, SHNI and BHNI subscription
Sudeep Pharma IPO Allotment
Allotment date, chances, and check by PAN
Sudeep Pharma IPO Review
SWOT, strengths, risks, and IPO review
Sudeep Pharma IPO FAQ
Common questions on dates, GMP, and allotment
Sudeep Pharma IPO Registrar
Registrar website and how to check allotment
Sudeep Pharma IPO Timeline
Open, close, allotment, and listing dates
Sudeep Pharma IPO News
Updates, blogs, and latest IPO news
Sources
We match Sudeep Pharma IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- MUFG Intime India Pvt.Ltd.Official site to check allotment status for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.