Sudeep Pharma opened its initial public offering for subscription with strong interest from the market and a healthy grey-market premium. The issue is backed by investor Mukul Agrawal, which has added to the attention around the launch.
The IPO is priced in a band of Rs 563 to Rs 593 per share and will remain open until November 25. Investors are required to apply for a minimum of 25 shares, and the amount payable at the upper end of the band works out to Rs 14,825 per lot.
The company aims to raise Rs 895 crore, which includes a fresh issue of Rs 95 crore and an offer for sale worth Rs 800 crore by existing shareholders. Ahead of the opening, the company allotted shares to anchor investors, indicating confidence from institutional buyers.
Sudeep Pharma manufactures excipients and specialised ingredients used in pharmaceuticals, food processing, and nutrition. It supplies to both domestic and global customers and has long-standing relationships with several industry players. The company’s growth over the last few years and its diversified client base have been highlighted as positives |
