Sudeep Pharma share price: Stock makes robust debut, lists at 23% premium on NSE; here's how much investors made

The stock listed at ₹730 per unit on the National Stock Exchange (NSE), reflecting a premium of 23.10% over the IPO issue price of ₹593 per share.

On the BSE, the scrip started trading at ₹733.95, up 23.77% from the IPO issue price.

Sudeep Pharma share price: Here's how much investors made per lot

The initial share sale aimed to raise ₹895 crore by offering new equity shares aggregating to ₹95 crore and an offer for sale (OFS) valued ₹800 crore.

Those offloading their stake under the OFS include promoters Sujit Jaysukh Bhayani, Shanil Sujit Bhayani, Sujeet Jaysukh Bhayani HUF and Avani Sujit Bhayani.

The net proceeds from the fresh issue will be utilised for procurement of machinery and corporate general purposes.

"In addition to the aforementioned objects, we expect to achieve the benefits of listing of the Equity Shares on the Stock Exchanges, enhancement of our company’s visibility and brand name amongst our existing and potential customers and creation of a public market for our Equity Shares in India," the company said in its red herring prospectus.

The initial public offering got subscribed a massive 93.72 times. It secured bids for 99,01,00,150 equity shares against 1,05,64,926 shares on offer, according to the NSE data.

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