Sudeep Pharma sets IPO price band at Rs 563-593/share; public issue to open on Fri

New Delhi, Nov 19 (PTI) Vadodara-based Sudeep Pharma has fixed the price band at Rs 563-593 per equity share for the Rs 895 crore initial public offering which will open for public subscription on November 21.

The initial public offering (IPO) will conclude on November 25, and bidding for anchor investors will open for a day on November 20. Investors can bid for a minimum of 25 equity shares and in multiples of 25 shares thereafter, the company said in a statement.

The IPO is a mix of a fresh issue of equity shares worth Rs 95 crore and an offer for sale of nearly 1.35 crore equity shares aggregating worth Rs 800 crore by promoters, Sujit Jaysukh Bhayani, Sujeet Jaysukh Bhayani HUF, Shanil Sujit Bhayani and Avani Sujit Bhayani.

The net proceeds from the fresh issue to the tune of Rs 75.81 crore will be for capital expenditure towards procurement of machinery for its production line located at Nandesari Facility 1, Gujarat and general corporate purposes.

Sudeep Pharma is a technology-led manufacturer of excipients and specialty ingredients for the pharmaceutical, food and nutrition industries and is dedicated to contributing to the global healthcare ecosystem.

The company is one of the largest producers of food-grade iron phosphate for infant nutrition, clinical nutrition, and the food and beverage sectors, in terms of production capacity with a combined annual available manufacturing capacity of 72,246 metric tons, as of June 30, 2025, as per F&S report.

It has served over 1,100 customers, and has built longstanding relationships with marquee customers including Pfizer Inc, Mankind Pharma, Merck Group, Aurobindo Pharma, Cadila Pharmaceutical, IMCD Asia Pte Ltd, and Danone SA.

The company's shares are proposed to be listed on the BSE and NSE.

ICICI Securities Ltd and IIFL Capital Services are the book-running lead managers, and MUFG Intime India Pvt Ltd is the registrar of the IPO. PTI HG HG MR