Sudeep Pharma IPO Review (2025): GMP, Price Band, Dates, Allotment & Listing Details
Sudeep Pharma IPO – GMP, Price Band, Subscription, Financials, RHP/DRHP & Detailed Review (2025)
Prepared by Money Bells Global Research Services Pvt. Ltd. (SEBI Registered Research Analyst – INH100009901)
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1. Sudeep Pharma IPO – Summary
Sudeep Pharma Limited is one of India’s leading manufacturers of pharmaceutical excipients and specialty mineral-based ingredients. It supplies high-purity calcium, iron, zinc and other pharma-grade compounds to both domestic and global markets.
2. IPO Details
| Detail | Information |
|---|---|
| IPO Open | 21 November 2025 |
| IPO Close | 25 November 2025 |
| Price Band | ₹563 – ₹593 |
| Issue Size | ₹895 crore |
| Fresh Issue | ₹95 crore |
| Offer for Sale | ₹800 crore |
| Lot Size | 25 shares |
| Listing Date | 28 November 2025 |
3. Company Overview
The company manufactures a wide range of excipients and specialty ingredients used in pharmaceuticals, nutraceuticals, food fortification and industrial formulations. It also exports to Europe, Middle-East, Asia and Africa.
4. Financial Performance
| Metric | FY24 | FY25 |
|---|---|---|
| Revenue | ₹460 crore | ₹502 crore |
| PAT | ₹106 crore | ₹138.69 crore |
| EBITDA Margin | ~26% | ~28% |
| Debt-Equity | 0.20 | 0.20 |
5. Strengths
- Strong niche presence in the pharma excipients industry
- High and stable margins
- Low debt and healthy balance sheet
- Export-driven growth
- Growing demand in pharma & nutraceuticals
6. Risks & Challenges
- Raw material price volatility
- Regulatory risks due to pharma/food compliance
- Large OFS (~₹800 crore) suggests partial promoter exit
- Export dependency exposes the company to forex risk
7. Grey Market Premium (GMP)
According to publicly available market trackers, the GMP is around ₹50–₹60. Please note: GMP is only a sentiment indicator and not a reliable predictor of listing price.
8. Subscription Status
Subscription data will update during the IPO window. Institutional demand is expected to be strong, followed by healthy retail and HNI participation.
9. RHP & DRHP – Official SEBI Filings
10. Should You Invest?
Sudeep Pharma has strong fundamentals, a high-margin business, and consistent financial performance. Valuation remains slightly premium, but long-term industry outlook is strong. Short-term listing gains may be moderate depending on subscription and market conditions.
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