Table of Content
- About Sudeep Pharma IPO Detail
- Business Overview of Sudeep Pharma
- Sudeep Pharma IPO Date, Price, and Other Details
- Sudeep Pharma IPO Reservation: Who Can Apply?
- Sudeep Pharma IPO Objectives – How Will the Funds Be Used?
- Promoter Shareholding of Sudeep Pharma Limited IPO
- Financial Performance (₹ in crores) of Sudeep Pharma IPO
- Key Performance Metrics of Sudeep Pharma
- Strengths And Risks of Sudeep Pharma IPO
- Registrar Of Sudeep Pharma IPO
- How To Check the IPO allotment Status of Sudeep Pharma?
- Lead Manager Of Sudeep Pharma Limited IPO
About Sudeep Pharma IPO Detail
Sudeep Pharma Limited is set to launch its IPO for public subscription on November 21, 2025, and will remain open until November 25, 2025.
The Sudeep Pharma IPO price range is set at ₹563 to ₹593 per equity share, and the IPO allotment results will be announced on November 26, 2025.
The IPO will list on both the BSE and NSE exchanges on November 28, 2025.
The Sudeep Pharma IPO size is a ₹895 crore book-building issue comprising a fresh issue of 0.16 crore shares raising ₹95.00 crore, and an Offer-for-Sale (OFS) of 1.35 crore shares amounting to ₹800.00 crore.
Business Overview of Sudeep Pharma
Established in 1989, Sudeep Pharma Limited is a technology-led manufacturer of excipients and specialty ingredients for the pharmaceutical, food, and nutrition industries.
With over 100 products and advanced in-house technologies, the company is among the largest global producers and exporters of mineral-based ingredients.
Backed by strong R&D and global presence, the company delivers high-quality APIs, excipients, premixes, and specialty nutritional ingredients.
It serves 1,100+ customers across 100 countries, including Pfizer, Danone, Intas, and Merck. Sudeep Pharma operates four manufacturing facilities (3 in India & one in Ireland) with USFDA, WHO-GMP, FSSC, and EXCiPACT approvals.
Sudeep Pharma IPO Date, Price, and Other Details
The following are the details of the upcoming IPO for Sudeep Pharma
| Particulars | Details |
|---|---|
| IPO Size | Book Build issue of ₹895.00 crores |
| Offer Type | Fresh issue of ₹95 crore + Offer for Sale (OFS) of ₹800 crores |
| Total Number of Equity Shares | 1,50,92,750 crore shares (estimated) |
| Price Band | ₹563 to ₹593 per share |
| Issue Dates | Opens: November 21, 2025 Closes: November 25, 2025 |
| Minimum Bid Lot | 1 lot of 25 shares |
| Allotment Date | November 26, 2025 |
| Listing Date | November 28, 2025 |
| Face Value | ₹1 per share |
| Use of Proceeds (est amounts) |
|
| Lead Managers (BRLMs) |
|
| Registrar | MUFG Intime India Private Limited |
| Listing Exchanges | NSE and BSE |
Sudeep Pharma IPO Reservation: Who Can Apply?
Depending on the investor category, here's who can invest and the quota allotted for each in the Sudeep Pharma IPO:
| Investor Category | (%) of Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net IPO Offer |
| Retail Shares Offered | Not more than 35% of the Net Offer |
| NII Shares Offered | Not more than 15% of the Offer |
Sudeep Pharma IPO Objectives – How Will the Funds Be Used?
The proceeds from the Sudeep Pharma IPO shall be utilized for the following purposes:
| Objective | Amount (₹ in crores) |
|---|---|
| Purchase of machinery for the production line at the Nandesari facility. | ₹758.14.00 crores |
| General corporate purposes | To be finalised (shall not exceed 25% of gross proceeds) |
Promoter Shareholding of Sudeep Pharma Limited IPO
The entire promoter shareholding of Sudeep Pharma Limited is divided among: Sujit Jaysukh Bhayani, Avani Sujit Bhayani, Shanil Sujit Bhayani, Sujeet Jaysukh Bhayani HUF, Riva Resources Private Limited, and Bhayani Family Trust.
| Promoter | Shareholding (%) |
|---|---|
| Promoter Holding Pre-Issue | 89.37% |
| Promoter Holding Post Issue | 76.15% |
Financial Performance (₹ in crores) of Sudeep Pharma IPO
Here's the table showing Sudeep Pharma Limited's financial performance from FY 2023 to FY 2025 and as of June 30, 2025.
| Period Ended | As of Jun 30, 2025 | Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 |
|---|---|---|---|---|
| Assets | 922.26 | 717.17 | 513.87 | 420.11 |
| Total Income | 130.08 | 511.33 | 465.38 | 438.26 |
| Profit After Tax | 31.27 | 138.69 | 133.15 | 62.32 |
| EBITDA | 48.57 | 199.28 | 187.76 | 98.64 |
| Net Worth (or Shareholder's Equity) | 688.32 | 497.53 | 359.07 | 226.29 |
| Reserves and Surplus | 668.52 | 481.11 | 354.59 | 221.88 |
| Total Borrowing | 135.97 | 135.25 | 75.03 | 82.26 |
Key Performance Metrics of Sudeep Pharma
Based on the consolidated financial statements of Sudeep Pharma, for FY 2024-25 and as of June 30, 2025, the following financial metrics can be considered.
| KPI | As of June 30, 2025 | Values (as of FY 2024-25) |
|---|---|---|
| Return on Equity (ROE) | 4.52% | 28.13% |
| Net Asset Value (NAV) | 62.61 | 45.86 |
| Price/Earnings (P/E) Ratio | - | Not available |
| Earnings Per Share (EPS) | 2.80 | 12.78 |
| Return on Capital Employed (ROCE) | 5.5% | 29.82% |
| EBITDA Margin (%) | 38.88% | 39.70% |
| PAT Margin (%) | 24.66% | 27.63% |
| Debt to Equity Ratio | 0.14 | 0.20 |
(Note: %* figure isn't annualized for period ending June 30, 2025. The P/E ratio is not available as the company isn't listed yet.)
Strengths And Risks of Sudeep Pharma IPO
Before applying for any IPO, it is important to understand the business's strengths and risks. Here's a brief analysis of the Sudeep Pharma Limited IPO to help you make informed decisions.
Strengths
- Market leadership - The company has a competitive advantage in a high-barrier industry with a diversified portfolio of over 100 products.
- Well-established facilities - Focusing on the infrastructure, they have four well-equipped manufacturing facilities with 12 production lines and a capacity of 72,246 MT. Also, the company owns a network of 15 warehouses across the United States, Europe, Latin America, Africa, and Asia.
- Robust regulatory framework - Their manufacturing hubs have received around 35 global accreditations and certifications, including 10 product-specific regulatory approvals (including from jurisdictions such as the United States and Europe).
- Strong research and development capabilities - The company operates two R&D facilities with a dedicated team of 41 personnel. As of June 30, 2025, they have undertaken around 420 R&D projects.
Future Plans/Strategies
- Expand the market reach and customer base by:
- Leveraging USFDA-approved capabilities for expansion in regulated markets.
- Boost the geographical presence via Lipoboost liposomal ingredients and Novelcap encapsulated products.
- Capitalize on government-led public health initiatives for large-scale fortification.
- Enhance the manufacturing facilities and set up another plant in Nandesari, Gujarat.
- Integrate recently acquired entities and continue evaluating inorganic growth opportunities.
Potential Risks
The top 5 customers of Sudeep Pharma Limited contribute 34.08% of revenue, like Pfizer, Merck, Danone, Intas, and Aurobindo. And while one of the largest clients alone contributes 14.58%, losing even one can significantly hit earnings and growth.
2. Working Capital & Cash-Flow PressureA large portion of revenue lies in unsecured trade receivables - goods sold on credit basis. Thus, any delays in payments by big clients can impact the cash flows of the company.
3. High Export ExposureA meaningful share of the company comes from exports. Thus, any sort of currency fluctuations, global regulatory changes, and geopolitical issues can make their earnings sensitive.
4. Manufacturing Concentrated in One RegionThree of its four plants are in Vadodara, exposing the entire production cycle to regional risks like disruptions, environmental compliance issues, or even local shutdowns.
5. Raw Material Price VolatilityThe company does not enter into long-term supplier contracts for key minerals and chemicals (like mineral calcium, phosphoric acid, and sorbic acid). Hence, margins can be hit by sudden price swings or supply disruptions.
6. Strict Quality & Regulatory CompliancePharma-ingredient manufacturing is subject to strict international standards. Even one compliance issue or recall can lead to loss of clients and export restrictions.
7. Existing Product Liability CaseThe ongoing US shelf-life-related claim indicates product quality sensitivity and potential financial or reputational impacts.
8. Valuation & Execution Risk on CapexA large chunk of IPO money goes into capex. If execution is delayed or demand doesn't match new capacity, returns on capital may fall short.
9. Debt ObligationsWith outstanding debt of (est.) ₹135 crore (as of FY 2024-25), rising interest rates or weak cash flow can strain repayment capacity.
Registrar Of Sudeep Pharma IPO
The registrar of the Sudeep Pharma IPO is MUFG Intime India Private Limited.
Phone: +91-22-4918 6270
Email: fujiyamapower.ipo@linkintime.co.in
How To Check the IPO allotment Status of Sudeep Pharma?
Here's how you can check your IPO allotment status for Sudeep Pharma Limited.
- Visit the allotment portal: https://linkintime.co.in/Initial_Offer/public-issues.html.
- Select "Sudeep Pharma Limited" from the company dropdown.
- Enter any of these details - PAN, Application Number, DP/Client ID, or Account Number/IFSC.
- Click "Submit" to view your allotment status.
Lead Manager Of Sudeep Pharma Limited IPO
The lead managers of Sudeep Pharma Ltd are ICICI Securities Limited and IIFL Capital Services Limited.
Disclaimer
All IPO details, including issue size, price band, and timelines, are sourced from the company's Red Herring Prospectus (RHP) and publicly available data at the time of writing. This blog is meant only for awareness and educational purposes - it's not investment advice. Please go through the RHP carefully available on the SEBI website. Henceforth, investors are requested to do their own research and due diligence before investing in any IPO. The author and platform do not guarantee the accuracy or completeness of the information and shall not be held responsible for any financial losses arising from investment decisions based on this content.
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