IPO Centre - IPO News
26-Nov-2025 11:54
Sudeep Pharma IPO ends with subscription of 93.72 times
The Qualified Institutional Buyers (QIB) category was subscribed 213.08 times, the Non-Institutional Investors category was subscribed 116.72 times, and the Retail Individual Investors category was subscribed 15.65 times.
The issue opened for bidding on 21 November 2025 and it closed on 25 November 2025. The price band of the IPO is fixed between Rs 563 and 593 per share.
The IPO comprised a fresh issue of equity shares worth up to Rs 95 crore and an offer for sale of 1,34,90,726 equity shares aggregating up to Rs 800 crore by existing shareholders Sujit Jaysukh Bhayani, Sujeet Jaysukh Bhayani HUF, Shanil Sujit Bhayani, and Avani Sujit Bhayani.
The objectives for the fresh issue include Rs 75.8 crore for capital expenditure towards procurement of machinery for the production line located at Nandesari Facility I, and the remaining amount for general corporate purposes.
The promoters are Sujit Jaysukh Bhayani, Shanil Sujit Bhayani, Avani Sujit Bhayani, Sujeet Jaysukh Bhayani HUF, Riva Resources, and the Bhayani Family Trust. The promoters and promoter group hold an aggregate of 9,95,03,523 equity shares, aggregating to 89.36% of the pre-offer issued and paid-up equity share capital. Their post IPO shareholding is expected to be around 76.15%.
Sudeep Pharma is a manufacturer of excipients and specialty ingredients for the pharmaceutical, food and nutrition industries.
The business is primarily structured into two verticals. (1) The Pharmaceutical, Food, and Nutrition vertical focuses on refined, mineral-based single ingredients essential to these industries, offering key mineral salts such as calcium, zinc, iron, potassium, magnesium, sodium, and copper that support a wide range of health-focused applications. (2) The Specialty Ingredients vertical is operated through the subsidiary SNPL. It focuses on developing technology-driven, application-specific mineral and micronutrient systems. These include micronutrient premixes, encapsulated ingredients, liposomal and spray-dried formats, granulated minerals, and triturated blends. These products cater to functional foods, dietary supplements, infant and clinical nutrition, FMCG, and convenience food formulations.
In Q1 FY26, the pharmaceutical, food, and nutrition segment contributed 66.43% to revenue, and the specialty ingredients segment 33.57%. In Q1 FY2026, India contributed 41.32% to total sales, while exports accounted for 58.68%.
Ahead of the IPO, on 20 November 2025, the company raised Rs 268.49 crore from anchor investors by allotting 45.27 lakh shares at Rs 593 each to 25 anchor investors.
For the quarter ended 30 June 2025, the firm recorded a consolidated net profit of Rs 30.81 crore and sales of Rs 124.92 crore.
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