Sudeep Pharma IPO: Price, Analysis, Allotment, And GMP

Sudeep Pharma IPO - Company Analysis

Sudeep Pharma IPO, a Mainboard IPO, is a bookbuilding issue of Rs. 895 Cr by Sudeep Pharma Management Ltd., which is a specialty chemicals & pharmaceutical ingredients manufacturer with a presence throughout India and its subsidiaries (USA, Ireland, Netherlands).

The business produces battery chemicals, excipients and specialty substances used in the food and nutrition, pharmaceutical and energy storage industries.

Products

Pharmaceutical, Food and Nutrition Business.

Speciality Ingredients Business.

Triturates.

Sudeep Pharma IPO Details

The Sudeep Pharma Ltd IPO open date is from Nov 21 to Nov 25, with IPO allotment on Nov 26, refund initiation on Nov 27, 2025.

The Rs. 895 Cr mainline IPO comprises a combination of fresh issue of 0.16 crore shares (Rs. 95 Cr) and offer for sale of 1.35 crore shares (Rs. 800 Cr).

The Sudeep Pharma IPO listing date might be on Friday, 28 November 2025, and it will be listed at the BSE and NSE. The Sudeep Pharma IPO price band is Rs. 563 to Rs. 593 for each Share. 

Events	Date
IPO Opening Date	November 21, 2025
IPO Closing Date	November 25, 2025
IPO Allotment Date	November 26, 2025 (Tentative)
Refund Initiation	November 27, 2025 (Tentative)
Tentative IPO Listing Date	November 28, 2025

 

Industry Outlook

The Indian Specialty food ingredients market is projected to grow at a CAGR of 8.1%.

If you want to apply for the IPO, click to open a Demat Account.

 

 

Company Financial

(Amount in Cr)

Period	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	717.17	513.87	420.11
Total Income	511.33	465.38	438.26
Profit After Tax	138.69	133.15	62.32
EBITDA	199.28	187.76	98.64
Net Worth	497.53	359.07	226.29
Reserves & Surplus	481.11	354.59	221.88
Borrowings	135.25	75.03	82.26

 

Cash Flows

The cash flows for various activities are shown below:

(Amount in Mn)

Net Cash Flow In Multiple Activities	FY25	FY24	FY23
Net Cash Flow Operating Activities	487.27	656.84	483.95
Net Cash Flow Investing Activities	(787.56)	(492.81)	(500.16)
Net Cash Flow Financing Activities	526.96	(127.35)	(97.77)

 

Revenue Bifurcation 

(Source RHP)

The Objective of The Issue

• Capital expenditure for the purchase of equipment for the Nandesari Facility I manufacturing line. ~ Rs. 75.81 Cr.

• General corporate purposes.

Click to check the IPO application status.

Listed Peers of Sudeep Pharma Management Ltd.

No listed peer of a similar size is engaged in the same lines of business as mentioned in the RHP.

Valuation

Metric	Value
Debt / Equity	0.20
RoNW	27.88%
PAT Margin	27.63%
EBITDA Margin	39.70%
Price to Book Value	12.93

 

 

 

Evaluation of P/E Ratio

The company's IPO price of Rs. 593 corresponds to a P/E multiple of 46.40x based on FY25 EPS of Rs. 12.78.

Explore the Glottis IPO.

IPO's Strengths

• Possesses four facilities which include those in India & Ireland, thereby strengthening the Company’s global supply.

• Pharmaceutical excipients, specialised components, Nutraceuticals, & Chemicals for batteries.

• Industry presence spanning multiple decades after being founded in 1989.

• The USA, Netherlands, and Ireland subsidiaries increase the potential for exports.
  
  

IPO Weaknesses

• Very few fresh issues, only ₹950 million; most are OFS.

• No dividends have been paid in the last three fiscal years by the company.

• The pharma and chemical industries are heavily regulated which raises the cost of compliance.
  
  

Sudeep Pharma IPO GMP

Sudeep Pharma IPO GMP today is has not started yet as of 18 Nov 2025, while writing this information. 

Sudeep Pharma Limited IPO Summary

IPO Opening & Closing Date	Nov 21, 2025 to Nov 25, 2025
Face Value	Rs. 1 per Share
Issue Price	Rs. 563 to Rs. 593
Lot Size	25 Shares
Issue Size	1,50,92,750 Shares (Rs. 895 Cr)
Offer for Sale	1,34,90,726 Shares (Rs. 800 Cr)
Fresh Issue	16,02,024 Shares (Rs. 95 Cr)
Listing At	BSE, NSE
Issue Type	Book Built Issue IPO
Registrar	MUFG Intime India Pvt. Ltd.

Sudeep Pharma IPO Lot Size

The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (25 Shares) amounting to Rs. 14825 and 13 Lots (325 Shares) amounting to Rs. 1,92,725, respectively, while for S-HNI investors, the minimum Lot is 14 (350 Shares) amounting to Rs. 2,07,550.

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	13 Lots
SHNI (Minimum)	14 Lots
SHNI (Maximum)	67 Lots
BHNI (Minimum)	68 Lots

Sudeep Pharma IPO Reservation

Institutional Share Portion	50%
Retail Investors' Share Portion	35%
Non-Institutional Shares Portion	15%

Sudeep Pharma IPO Allotment Status

To check the Sudeep Pharma IPO allotment status, visit the official Registrar’s website or the BSE website. Below are the website links for you.

Using BSE Website - ​BSE IPO allotment status

Promoters And Management of Sudeep Pharma Management Ltd.

• Sujit Jaysukh Bhayani

• Avani Sujit Bhayani

• Shanil Sujit Bhayani

• Sujeet Jaysukh Bhayani HUF

• Riva Resources Private Limited

• Bhayani Family Trust.
  
  

Pre-Issue Promoter Shareholding	89.37%
Post-Issue Promoter Shareholding	76.15%

 

Sudeep Pharma IPO Lead Managers

• ICICI Securities Ltd.

• IIFL Capital Services Ltd. 

Dividend Policy

The company has not paid a dividend in the past three fiscal years.

 

 

Conclusion

The Sudeep Pharma IPO brings a long-established specialty chemicals and excipients manufacturer to the public markets. With strong manufacturing capabilities across India & Ireland and a diverse product line, the company is fundamentally stable. However majority of the issue is OFS with no historical dividends are major risks.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

Click Here To Stay Updated With The Upcoming IPOs.

DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.