93.41xsubscribed

Sudeep Pharma IPO

Q: How to invest in the Sudeep Pharma IPO ?

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

Q: What is the issue size of Sudeep Pharma IPO ?

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

Q: 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.

Q: 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.

Q: What are the open and close dates of the Sudeep Pharma IPO ?

Sudeep Pharma IPO will be open between 2025-11-21 and 2025-11-25.

Q: What is the allotment date for the Sudeep Pharma IPO ?

Sudeep Pharma IPO allotment date is 2025-11-27. For Sudeep Pharma IPO allotment status check, you can visit the website of the registrar of the IPO.

Q: Who is the registrar of Sudeep Pharma IPO ?

For Sudeep Pharma IPO, the IPO registrar is MUFG Intime India Private Limited. You can check Sudeep Pharma IPO allotment status on the website of the registrar.

Q: Where is the Sudeep Pharma IPO getting listed?

The shares are proposed to be listed on the BSE and NSE.

Q: When will Sudeep Pharma IPO shares be credited to your demat account?

The Sudeep Pharma IPO shares will typically be credited to your demat account one working day before the IPO's listing date, provided your application is successfully allotted.

Q: What is the lot size and minimum order quantity of the Sudeep Pharma IPO ?

The Sudeep Pharma IPO lot size is 25 and minimum order quantity is 25.

93.41xsubscribed

Pharmaceuticals & Drugs

listed

₹14,075Min. investment

Sudeep Pharma Limited IPO Details

Sector

Pharmaceuticals & Drugs

Issue size

₹895Cr

IPO type

Mainboard

Market cap

₹6,697CrLower than sector avg

Price range

₹563 – ₹593

Listing exchange

BSE, NSE

RevenueApr 2024 - Mar 2025

₹501.99CrLower than sector avg

Listing date

28 Nov 2025

Lot size

25 shares

Red Herring Prospectus

Read

Growth rate3Y CAGR

8.21%

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 IPO Subscription Status

Date	QIB	NII	Retail	Total
21-Nov-25	0.02 times (X)	2.98 times (X)	1.51 times (X)	1.43 times (X)
24-Nov-25	0.09X	11.89X	4.99X	5.1X
25-Nov-25	89.78X	115.36X	15.18X	93.41X

As on 21-Nov-25, 5:30 PM

Sudeep Pharma IPO Timeline

Pre-apply
19 Nov
Bid start
21 Nov
Bid end
25 Nov
Allotment
26 Nov
Release of funds
27 Nov
Demat transfer
27 Nov
Listing
28 Nov

Pre-apply
19 Nov 2025
Bid start
21 Nov 2025
Bid end
25 Nov 2025
Allotment
26 Nov 2025
Release of funds
27 Nov 2025
Demat transfer
27 Nov 2025
Listing
28 Nov 2025

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:

Login to your Upstox account, using your six-digit PIN
After successfully logging in, click on ‘Discover’
On the Discover tab, you will find the ‘Invest in IPO’ section
Under the Invest in IPO section, look for the ‘Sudeep Pharma IPO’ tab and click on it
Now fill in all the required information, like ‘bid price’ and ‘lot size’
Confirm and click on ‘Pre-Apply’
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:

Log in to your Upstox account, using your six-digit PIN
After logging in, click on ‘Discover’
On the ‘Discover’ tab, you will find the ‘Invest in IPO’ section
Under the Invest in IPO section, look for the ‘Sudeep Pharma IPO’ tab and click on it
Now fill in all the required information, like ‘bid price’ and ‘lot size’
Confirm and click on ‘Apply’
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:

Login to your Upstox account, using your six-digit PIN
After logging in, click on ‘Discover’
On the ‘Discover’ page, you will find the ‘Invest in IPO’ section
Under the Invest in IPO section, you will find the ‘View all’ option
Once you click on ‘View all’, you will be directed to the ‘IPO’ tab
In the ‘IPO’ tab, click on ‘My applications’
In ‘My applications’, under the History section, your Azad Engineering IPO allotment status will be mentioned

Sudeep Pharma Limited IPO Analysis

IPO REVIEW

Sudeep Pharma IPO | Analysis Video

Should you apply?

Watch our analysts break down the Sudeep Pharma Limited IPO — business model, financials, valuation and key risks — to help you decide whether to apply. The video covers the IPO price band, important dates, and what the subscription numbers mean for retail investors.

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Quality analysis

Revenue growth

Company valuation

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Risk analysis

Debt to Equity ratio

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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.

Objectives of Sudeep Pharma Limited IPO

Capital expenditure

79.70%

₹75.81 crore will be used for machinery procurement (capex) at the Nandesari Facility.

General corporate purposes

20.30%

Part of the IPO proceeds will be used for general corporate purposes.

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CompanyRevenue*3Y growthPATMarket capP/E ratioD/E ratio

This IPO₹501.99Cr8.21%₹138.69Cr₹6,697Cr46.400.20

This sector (avg.)₹1,331.47Cr0%₹193.4Cr₹10,914.84Cr60.870.43

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*Revenue for financial year 2024-25. Lower P/E and D/E ratios are generally preferred.

Sudeep Pharma IPO Contact Details

Company Name	Sudeep Pharma Limited

Company NameSudeep Pharma Limited

How to apply for Sudeep Pharma IPO?

Step 1
Log in to your Upstox account to access IPO investments. Next, select the current IPO section.
Step 2
Specify IPO details. Enter the number of lots and the price you wish to apply for.
Step 3
Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
Step 4
Mandate Notification. Your UPI app will receive a mandate notification to block funds.
Step 5
Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.