The Indian primary market continues its robust momentum with the launch of the Sudeep Pharma IPO, a ₹895 crore book-built public issue that has already captured the attention of retail and institutional investors. The offering is structured to include a combination of fresh equity issuance and an offer for sale, providing a clear pathway for both capital infusion and investor exit.

This IPO marks Sudeep Pharma’s strategic move toward public capital markets, aligning with its long-term objectives of expansion, brand strengthening, and operational scaling. The company enters the market at a time when the pharmaceutical and specialty chemicals industry is witnessing strong demand, both domestically and globally.

IPO Structure: Fresh Issue and Offer for Sale

The total issue of ₹895 crore includes two components:

1. Fresh Issue – ₹95 Crore

The fresh issue comprises 0.16 crore new shares, aggregating to ₹95 crore. Proceeds from the fresh issue are expected to support:

• Working capital

• Manufacturing capacity enhancement

• Process development

• Possible debt repayment

• Strengthening R&D capabilities

The fresh capital infusion will enable Sudeep Pharma to accelerate its growth trajectory and meet increasing demand across its product segments.

2. Offer for Sale (OFS) – ₹800 Crore

The OFS includes 1.35 crore shares totaling ₹800 crore. Existing shareholders will offload part of their stake, enabling partial monetization.

This balance of fresh issue + OFS gives investors a structured opportunity to participate in the company’s future growth without significant dilution.

Important Dates and Timeline

Investors have a clear timeline for participation in the IPO:

• IPO Opening Date: November 21, 2025

• IPO Closing Date: November 25, 2025

• Basis of Allotment: November 26, 2025

• Demat Credit of Shares: On or before November 27, 2025

• Tentative Listing Date: November 28, 2025

• Exchanges: BSE and NSE

This timeline positions the IPO for a quick turnaround from subscription to listing.

Price Band and Lot Size

The company has set a competitive price band of ₹563 to ₹593 per share. The minimum application for retail investors is one lot consisting of 25 shares, requiring an investment of ₹14,825 at the upper band.

Category-wise Investment Requirements

Retail Investors

• 1 lot = 25 shares

• Investment = ₹14,825

sNII (Small Non-Institutional Investors)

• 14 lots = 350 shares

• Investment = ₹2,07,550

bNII (Big Non-Institutional Investors)

• 68 lots = 1,700 shares

• Investment = ₹10,08,100

This allocation ensures participation across all investor categories, encouraging high subscription levels.

Market Context and Investor Sentiment

The pharmaceutical and specialty chemicals sectors have displayed strong resilience and growth in recent years. With increasing global focus on supply chain diversification, India has emerged as a critical hub for manufacturing active ingredients, excipients, and pharmaceutical intermediates—areas where Sudeep Pharma is likely to have a strong foothold.

Investor interest in pharma-related IPOs has strengthened due to:

• Consistent long-term demand

• High-margin specialty products

• Global supply chain dependency

• Stable cash flows

• Ongoing innovation in manufacturing processes

The Sudeep Pharma IPO, backed by solid fundamentals and market demand, is expected to attract robust participation from institutional, NII, and retail segments.

Allotment and Listing Prospects

The basis of allotment is set for November 26, 2025, where investors will know if their bids have been successful. Shares will be credited to Demat accounts shortly thereafter, enabling trading on the listing day, November 28, 2025.

Listing dynamics will depend on:

• Total subscription levels

• Grey market premium (if any)

• Market sentiment toward the pharma sector

• Recent performance of similar IPOs

The combination of a moderate issue size, strong sectoral sentiment, and accessible pricing position Sudeep Pharma for a potentially healthy listing.

Retail Participation Outlook

Retail investors have shown keen interest in companies within the pharmaceutical supply chain, given:

• Strong growth visibility

• Defensive sector characteristics

• Consistent demand across market cycles

With a low entry point of ₹14,825, the IPO is accessible to a wide retail audience. If the company demonstrates improving financial performance and scalable operations, investors may view it as an attractive long-term opportunity.

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