Sudeep Pharma IPO Day 1: Check live subscription status, price band, lot size, key dates and more

Sudeep Pharma IPO: Vadodara-based Sudeep Pharma's initial public offering opened for subscription on Friday, November 21. The issue, which has set a price band of ₹563 to ₹593 per share, will conclude on November 25.

The IPO, which is aiming to raise ₹895 crore, consists of a fresh issue of shares valued at ₹95 crore and an offer for sale (OFS) of 13,490,726 equity shares worth ₹800 crore by promoters Sujeet Jaysukh Bhayani HUF, Sujeet Jaysukh Bhayani, Avani Sujit Bhayani and Shanil Sujit Bhayani.

Fresh issue proceeds to the tune of ₹75.81 crore will be utilised for procurement of machinery for its production line located at Gujarat's Nandesari Facility 1 and general corporate purposes.

Sudeep Pharma IPO Day 1: Subscription status

Sudeep Pharma IPO: Lot size

The application size for at least one lot is 25 shares. Half of the net offer has been reserved for qualified institutional buyers (QIBs), 35% for retail investors and 15% for non-institutional investors.

Before the IPO, the company mobilised ₹268.5 crore from anchor investors, including SBI Mutual Fund (MF), HDFC MF, Nippon India MF, WhiteOak Capital MF, ICICI Prudential MF, Aditya Birla Sun Life MF, Motilal Oswal MF, Bandhan MF, UTI MF, Edelweiss MF, Quant MF, Tata AIA Life Insurance and SBI Life Insurance.

Sudeep Pharma IPO: Key dates

After the subscription ends, the basis of allotment would occur on November 26. The company's shares will be listed on the NSE and the BSE on November 28.

IIFL Capital Services and ICICI Securities are the issue's book-running lead managers, while MUFG Intime India serves as registrar.

Sudeep Pharma Ltd is a technology-led manufacturer of excipients and speciality ingredients for the pharmaceutical, nutrition and food sectors. It is among the largest producers of food-grade iron phosphate for infant nutrition, clinical nutrition, and the food and beverage industries, in terms of production capacity.

Sudeep Pharma IPO GMP

According to media reports and investorgain.com, Sudeep Pharma's unlisted shares are trading at ₹715, reflecting a grey market premium of 20.57% over the upper price band of ₹593.