Updated on 28.11.2025 @ 11:59 AM
Sudeep Pharma Limited is set to launch its mainboard Initial Public Offering (IPO) on November 21, 2025.
The company is seeking to raise up to ₹895 crores, but investors must note that this issue is overwhelmingly an Offer for Sale (OFS) by its promoters.
The price band has been fixed at ₹563 to ₹593 per share, with a minimum lot size of 25 shares. Sudeep Pharma has a strong financial track record and a leadership position in its niche, but the IPO structure and valuation require careful consideration.
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The Grey Market Premium (GMP) is yet to commence trading.
In this article, you will find Sudeep Pharma IPO GMP today, subscription status, allotment date, price band, and a detailed, unbiased review to help you make an informed decision.
Briefs of Sudeep Pharma IPO Details
- Price Band: ₹563 – ₹593 per share
- IPO Open / Close Dates: November 21, 2025 – November 25, 2025
- Lot Size: 25 Shares
- Issue Size: ₹895 Crores (Fresh Issue of ₹95 Cr + OFS of ₹800 Cr)
- Fresh Issue / OFS: Both
- Registrar: MUFG Intime India Pvt.Ltd.
- Listing Exchange: BSE & NSE
What is Sudeep Pharma IPO GMP Today?
Check the GMP details all at one place. GMP hub page. The stock listed at 23% premium.
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What Are The Important Dates of Sudeep Pharma IPO & Allotment Schedule?
- IPO Open & Close Date: November 21, 2025 – November 25, 2025
- Basis of Allotment Date: November 26, 2025
- Refund Initiation Date: November 27, 2025
- Credit of Shares: November 27, 2025
- Listing Date: November 28, 2025
Listing Updates:
| Type | Issue Price | Open | Gain/loss |
| Lisiting | 593 | 730 | 23.1 |
What are The Objectives of Sudeep Pharma Limited IPO?
The company intends to utilise the net proceeds from the fresh issue for a key capital expenditure plan:
- Capital Expenditure (₹75.81 Crores): The majority of the fresh issue proceeds will be used to procure new machinery for its manufacturing facility in Nandesari, Gujarat.
- General Corporate Purposes: The balance amount will be used for other strategic and operational requirements.
- Crucial Note: A massive ₹800 crores, representing nearly 90% of the total IPO size, is from the Offer for Sale. This money will go directly to the selling promoters and will not be invested in the company's growth.
How is The Financial Performance of Sudeep Pharma?
(Amounts in ₹ Crores)
Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
Total Income | 130.08 | 511.33 | 465.38 | 438.26 |
Profit After Tax | 31.27 | 138.69 | 133.15 | 62.32 |
EBITDA | 48.57 | 199.28 | 187.76 | 98.64 |
NET Worth | 688.32 | 497.53 | 359.07 | 226.29 |
Reserves and Surplus | 668.52 | 481.11 | 354.59 | 221.88 |
Total Borrowing | 135.97 | 135.25 | 75.03 | 82.26 |
Sudeep Pharma has demonstrated strong and consistent financial growth.
The company's revenue has grown steadily, and its profitability has been exceptional, with profit after tax (PAT) more than doubling between FY23 and FY25.
The company boasts a healthy balance sheet with low debt and has strong profitability metrics.
Source: RHP
What is the P/E Ratio & Valuation
Based on its Fiscal Year 2025 earnings per share (EPS) of ₹12.78, the IPO is priced at a Price-to-Earnings (P/E) multiple of approximately 46.4x at the upper end of the price band (₹593).
Since the company has no directly listed peers in India, this valuation is difficult to benchmark. However, a P/E of over 46x is a premium valuation that prices in a significant amount of future growth.
Industry Outlook
- Sudeep Pharma is a niche player in the global pharmaceutical excipients and specialty ingredients market.
- The company is one of the largest exporters of mineral-based ingredients from India.
- With a strategic acquisition in Ireland, it is strengthening its foothold in the European market for critical care and infant nutrition.
- The company is also diversifying into high-tech areas like specialized battery chemicals, leveraging its core expertise in mineral chemistry.
What Are The Strengths and Risks of Sudeep Pharma IPO?
Strengths:
- Market Leader in a Niche Segment: A leading manufacturer and exporter of specialized pharma and nutrition ingredients.
- Strong Financial Performance: A track record of consistent revenue growth, explosive profitability, and high margins.
- Global Presence and Strategic Acquisitions: Expanding its global footprint through strategic acquisitions and a direct-to-market approach.
- Experienced Management: Led by a promoter with over three decades of industry experience.
Risks:
- Massive Offer for Sale (OFS): This is the biggest red flag. The fact that promoters are cashing out ₹800 crores, while the company is only raising ₹95 crores for itself, raises serious questions about their long-term view.
- High Customer and Supplier Concentration: The business is heavily dependent on a few key customers and suppliers, making it vulnerable to disruptions in these relationships.
- Premium Valuation: The IPO is priced at a steep P/E multiple of over 46x, which leaves very little room for error post-listing.
- Promoter Share Pledge: A significant portion of the holding of one of the promoter entities is currently pledged, which is a governance concern.
What Are The Expert Recommendations – Should You Apply?
Subscribe with Caution (For High-Risk Investors)
The Sudeep Pharma IPO is a classic case of a great business coming to the market with a less-than-ideal IPO structure and a very high price tag.
- For Risk-Averse Investors: AVOID. The massive OFS and the premium valuation make this a high-risk proposition. There are safer opportunities available in the market.
- For Long-Term Investors: The business itself is fundamentally strong, with a leadership position in a niche, high-margin space. Investors who are willing to look past the OFS and hold for the very long term might consider it, but they should be prepared for potential volatility.
- Our View: The IPO is a story of a great company, but a not-so-great offer. The valuation is demanding, and the huge promoter exit is a major concern. We recommend a "Subscribe with Caution" rating, strictly for high-risk investors with a long-term view.
Key Takeaways
- IPO Price Band: ₹563 – ₹593 per share
- Lot Size: 25 Shares (Minimum Investment: ₹14,825)
- GMP Today: ₹0 (Not trading)
- Allotment & Listing Dates: Tentative listing on November 28, 2025.
- Recommendations of experts: A high-risk issue. Subscribe with caution, suitable only for aggressive investors due to the massive Offer for Sale and a very expensive valuation.
FAQs on Sudeep Pharma IPO
What is Sudeep Pharma IPO price band?
The price band for the IPO is set at ₹563 to ₹593 per equity share.
What is Sudeep Pharma IPO allotment date?
The allotment of shares is tentatively expected to be finalized on Wednesday, November 26, 2025.
How to check Sudeep Pharma IPO allotment status?
You can check the allotment status on the website of the IPO registrar or at the respective exchange once the basis of allotment is finalized.
What is Sudeep Pharma IPO listing date?
The company's shares are tentatively scheduled to be listed on the BSE and NSE on Friday, November 28, 2025.
Should I apply for Sudeep Pharma IPO?
This is a high-risk proposition. Given the massive promoter stake sale and a very demanding valuation, it is advisable for most retail investors to be cautious and possibly avoid this IPO.
Useful Links: Sudeep Pharma IPO RHP
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Disclaimer:
IPO details, GMP, and estimates shared here are for information only.
Data may change. This is not financial advice. IPOs carry market risks—please consult your advisor before investing.
