Sudeep Pharma IPO

Sudeep Pharma IPO

Pharmaceuticals & Drugs
upcoming
₹14,075Min. investment
  1. Pre-apply
    TBA
  2. Bid start
    21 Nov
  3. Bid end
    25 Nov
  4. Allotment
    26 Nov
  5. Release of funds
    27 Nov
  6. Demat transfer
    27 Nov
  7. Listing
    28 Nov

About Sudeep Pharma Limited

SectorPharmaceuticals & Drugs
Price range₹563 – ₹593
IPO type
Regular
Lot size25 shares
Issue size₹895Cr
Red Herring Prospectus
Read
Market Cap
₹6,697CrLower than sector avg
RevenueApr 2024 - Mar 2025
₹501.99CrLower than sector avg
Growth rate3Y CAGR
8.21%

Sudeep Pharma Limited IPO Overview

Sudeep Pharma Limited IPO date

The Sudeep Pharma Limited IPO will open for subscription on November 21, 2025, and will close on November 25, 2025. After this, investors are expected to be updated about the allotment status on November 26, 2025.

Investors who have been allotted shares can expect them to be credited to their demat account on November 27, 2025. The shares will be listed on the NSE and the BSE on Friday, November 28, 2025.

Sudeep Pharma Limited IPO price band

The IPO includes a fresh issue and an offer for sale. The IPO price band has been set between ₹563 and ₹593 per share. Interested investors can choose a price within this band to apply for the IPO.

The IPO is a book-building issue, comprising a fresh issue of ₹95 crore and an offer for sale of ₹800 crore. Sudeep Pharma Limited's IPO listing price will be determined on November 28, 2025. The listing price is the price at which a company’s shares debut on the stock exchanges.

Sudeep Pharma Limited IPO lot size

Sudeep Pharma Limited IPO details have been declared. The minimum lot size for an application is 25 shares, and the investor would have to apply for a minimum of 1 lot. Meanwhile, the IPO issue size is approximately ₹895 crore.

Checklist

Quality analysis
Revenue growth
Company valuation
Earnings expansion
Risk analysis
Debt to Equity ratio
Promoter holdings
Shares pledged
The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily

Compare

Companies in this sector
Sun Pharmaceutical Industries LtdSun Pharmaceutical Industries Ltd
Divi's Laboratories LtdDivi's Laboratories Ltd
Torrent Pharmaceuticals LtdTorrent Pharmaceuticals Ltd
Revenue
Higher revenue means strong sales and good market demand
This IPO
₹501.99Cr
This sector
₹1,331.47Cr
Compare with companies
PAT
Higher PAT means strong profitability and efficient cost management
This IPO
₹138.69Cr
This sector
₹193.4Cr
Compare with companies
Market cap
Higher market cap means strong confidence but may suggest overvaluation
This IPO
₹6,697Cr
This sector
₹10,914.84Cr
Compare with companies
P/E ratio
Lower ratio usually means stock is undervalued
This IPO
46.40
This sector
60.87
Compare with companies
D/E ratio
Lower ratio usually means fewer liabilities
This IPO
0.20
This sector
0.43
Compare with companies

Objectives

Capital expenditure
79.70%
General corporate purposes
20.30%

Strength and Weakness

Market leadership and diversified product portfolio

The company is a leading manufacturer of pharmaceutical, food, nutrition, and speciality ingredients in terms of production volume as of June 30, 2025, with a strong focus on mineral-based products and iron phosphate. It has a diversified portfolio of 100+ products, supported by a stable revenue mix where pharma/food/nutrition contributed 66.43% and speciality ingredients 33.57% in Q1FY26.

Long-standing global customer base

As of June 30, 2025, the company has served 1,100+ customers, including 40+ blue-chip MNCs and 14 Fortune 500 clients, demonstrating strong global acceptance. Key customers include Pfizer, Merck, Danone, Intas, and Aurobindo. The top five customers contributed 34.08% of revenue as of June 2025, with an average relationship tenure of 7.08 years, indicating high stickiness.

Well-equipped manufacturing facilities

The company operates four manufacturing facilities, including one in Ireland, with a combined annual production capacity of 72,246 MT across 12 lines. Facilities hold 35 global accreditations, including USFDA, EXCiPACT, WHO-GMP, and ISO certifications. Notably, its Nandesari Facility I became the first and only Indian company certified by the USFDA for mineral-based food ingredients. Ongoing capex of ₹12.95 crore and the upcoming 51,200 MT facility by Q4FY26 provide clear visibility for capacity-driven growth.

Strong R&D capabilities

With two dedicated R&D centres and a team of 41 specialists, the company has executed 420+ R&D projects over the last 3 years, commercialising 127 products, including Lipoboost (liposomal ingredients) and Novelcap (encapsulated ingredients). R&D spending has scaled to ₹10.04 crore in FY25 and ₹2.67 crore (2.06% of revenue as of June 2025), reflecting sustained focus on formulation enhancement, particle engineering, improved bioavailability, and targeted release.

About Sudeep Pharma Limited

Sudeep Pharma Limited is a technology-driven manufacturer of pharmaceutical excipients and speciality ingredients serving the global pharmaceutical, food, and nutrition industries. Established in 1989, the company has evolved from the production of excipients into a diversified ingredients player with over 100 products as of June 30, 2025.
The company is recognised as one of the largest producers of food-grade iron phosphate for infant nutrition, clinical nutrition, and the food and beverage sectors, in terms of production capacity and is a key exporter of mineral ingredients for pharmaceutical, food, and nutrition applications. In 2024, it stood among India’s largest exporters in this category, with a clientele spanning about 100 countries.
The company operates under two verticals: Pharmaceutical, food, and nutrition ingredients, which include mineral salts like calcium, zinc, iron, potassium, magnesium, sodium, and copper and Speciality ingredients, which are produced by its subsidiary SNPL and include liposomal ingredients, granulated or spray-dried formats, encapsulated actives, and micronutrient premixes. Segment-wise, the pharmaceutical, food and nutrition segment contributed 66.43% of revenue, while speciality ingredients accounted for 33.57% and intersegment revenue stood at 7.96% as of June 2025.
Sudeep Pharma has served over 1,100 clients worldwide, including 14 Fortune 500 multinational corporations as of June 30, 2025. 83.17% of revenue came from repeat customers, highlighting customer stickiness. Additionally, it has partnerships with major pharmaceutical and nutrition companies, such as Pfizer, Intas, Mankind, Merck Group, Aurobindo, Cadila, Danone, and others. In order to expand its market reach, the company and its partners run a network of 15 warehouses in the US, Europe, Latin America, Africa, and Asia as of June 2025, along with established regional sales offices.
The company has four manufacturing facilities and twelve production lines, including three units in Gujarat with a combined annual manufacturing capacity of 65,579 MT that produce food-grade and pharmaceutical minerals, speciality ingredients. The company has another plant in Ireland, which was acquired through the NSS acquisition. Together, these facilities offer a combined annual production capacity of 72,246 MT.
These facilities hold 35 global accreditations, including USFDA, EXCiPACT, WHO-GMP, FSSC and more, enhancing its competitive advantage in regulated markets. Notably, one of its facilities holds USFDA approval for mineral-based ingredients, making it one of the few companies in the world to have this certification. The company is also the only manufacturer in India, and one of nine globally, holding a Council of Europe CEP certification and written confirmation for the sale of calcium carbonate as an API in the EU.
With two R&D centres, 41 specialists, and more than 420 projects completed over the last three years up to Q1FY26, its R&D strength further boosts competitiveness. As a result of such initiatives, the company was able to successfully commercialise 127 products. Key innovations include Lipoboost, offering 3–5x higher nutrient absorption, and Novelcap.
The global demand for nutritional ingredients is expected to grow at a CAGR of 6.8% between 2024 and 2029, and that for Vitamins and Minerals is expected to grow at a CAGR of 7% between 2024 and 2029. The company’s key export markets- North America, Europe, and Asia-Pacific- are projected to grow steadily at 5.6%, 4.6% and 9.0% CAGR, respectively by 2029, aligning closely with the company’s revenue mix where North America contributed 15.92%, Europe 17.46% and Asia-Pacific 13.87% as of June 2025. With 58.68% of total revenue coming from exports, the company is well-positioned to benefit from rising nutritional ingredient demand across its fastest-growing global destinations.
The company is in the process of setting up a manufacturing facility to produce precursor cathode active materials (“pCAM”), beginning with battery-grade iron phosphate for lithium iron phosphate batteries. Additionally, it is concentrated on increasing manufacturing capabilities, creating tailored solutions, and broadening its market reach.
Now, Sudeep Pharma Ltd is launching its initial public offering (IPO), which consists of a fresh issue of ₹95 crore and an offer for sale of ₹800 crore. The total issue size of the IPO is ₹895 crore. Its shares will be listed on the NSE and BSE.

How to pre-apply for the Sudeep Pharma IPO?

You can pre-apply for the Sudeep Pharma IPO on Upstox. The pre-application for this IPO, which means pre-apply open date, usually begins a day before the IPO opens for subscription.
Follow these steps to pre-apply for the IPO:
  1. Login to your Upstox account, using your six-digit PIN
  2. After successfully logging in, click on ‘Discover’
  3. On the Discover tab, you will find the ‘Invest in IPO’ section
  4. Under the Invest in IPO section, look for the ‘Sudeep Pharma IPO’ tab and click on it
  5. Now fill in all the required information, like ‘bid price’ and ‘lot size’
  6. Confirm and click on ‘Pre-Apply’
  7. Accept the mandate on your UPI app

How to apply for the Sudeep Pharma IPO?

If you are interested in this investment opportunity but unsure how to apply for the Sudeep Pharma IPO, here are the steps that you need to follow.
When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the Sudeep Pharma IPO on Upstox:
  1. Log in to your Upstox account, using your six-digit PIN
  2. After logging in, click on ‘Discover’
  3. On the ‘Discover’ tab, you will find the ‘Invest in IPO’ section
  4. Under the Invest in IPO section, look for the ‘Sudeep Pharma IPO’ tab and click on it
  5. Now fill in all the required information, like ‘bid price’ and ‘lot size’
  6. Confirm and click on ‘Apply’
  7. Accept the mandate on your UPI app

How to check Sudeep Pharma IPO Allotment Status?

When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally completed on the next working day after an IPO closes.
Here’s a step-by-step guide on how to check the Sudeep Pharma IPO allotment status:
  1. Login to your Upstox account, using your six-digit PIN
  2. After logging in, click on ‘Discover’
  3. On the ‘Discover’ page, you will find the ‘Invest in IPO’ section
  4. Under the Invest in IPO section, you will find the ‘View all’ option
  5. Once you click on ‘View all’, you will be directed to the ‘IPO’ tab
  6. In the ‘IPO’ tab, click on ‘My applications’
  7. In ‘My applications’, under the History section, your Azad Engineering IPO allotment status will be mentioned

Latest News on IPO

news logo
Sudeep Pharma IPO date: The initial share sale, with a price band of ₹563 to ₹593 per share, seeks to raise ₹895 crore by offering new equity shares worth ₹95 crore and an offer for sale (OFS) of ₹800 crore by promoters Sujit Jaysukh Bhayani, Sujeet Jaysukh Bhayani HUF, Avani Sujit Bhayani and Shanil Sujit Bhayani.

3 min read

news logo
Sudeep Pharma's revenue and net profit, for the fiscal ended December 31, 2024, stood at ₹344.45 crore and ₹94.54 crore, respectively.

2 min read

news logo
Sudeep Pharma has filed a DRHP for an IPO, offering ₹95 crore in fresh shares and 1,00,76,492 shares via offer for sale. Established in 1989, the company serves over 1,100 clients across pharma, food, and nutrition. Revenue for nine months ending Dec 2024 was ₹344.45 crore, with a profit of ₹94.54 crore. IPO proceeds will fund machinery and corporate needs, with shares listed on BSE and NSE.
news logo
Sudeep Pharma IPO: The ₹895 crore initial share sale is a mix of fresh issuance of shares totalling ₹95 crore and an offer for sale (OFS) of 1.35 crore shares aggregating to ₹800 crore.

2 min read

Frequently asked questions

How to invest in the IPO?

Investors can apply for the IPO through their Demat account via the stock exchange or through their broker.

What is the issue size of Sudeep Pharma IPO ?

The issue size of the Sudeep Pharma IPO is 895 Cr.

What is 'pre-apply' for Sudeep Pharma IPO ?

Pre-applying for an IPO allows you to submit your application before the official subscription period begins.

Which exchanges will Sudeep Pharma IPO shares list on?

The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.
Opens on 21 Nov 2025