Sudeep Pharma Ltd made a blockbuster entry on Dalal Street today, listing at a healthy 20% premium to its issue price of ₹593, as investors cheered the company's global footprint and robust subscription. Shares opened at ₹713 on the BSE and NSE, marking a solid debut for the Vadodara-based manufacturer of pharmaceutical excipients and specialty nutrition ingredients.
The IPO, which raised ₹895 crore through a fresh issue of ₹95 crore and an offer for sale of ₹800 crore, had closed with a whopping 93.72x oversubscription – led by qualified institutional buyers at 213x. Grey market premium (GMP) trends held firm at ₹115-121 (19-20%) ahead of the bell, aligning perfectly with the opening surge and signaling sustained retail and HNI interest.
Quick Facts: Sudeep Pharma IPO Journey
| Parameter | Details |
|---|---|
| Issue Size | ₹895 crore (1.51 crore shares) |
| Price Band | ₹563-₹593 per share |
| Subscription | 93.72x overall (QIB: 213x, NII: 116x, Retail: 15.65x) |
| Allotment Date | November 26, 2025 |
| Listing Date | November 28, 2025 (Today) |
| GMP Today | ₹115-121 (19-20% premium) |
| Expected Listing | ₹708-714 (based on GMP) |
| Actual Open | ₹713 (BSE/NSE) |
| Anchor Raise | ₹268.5 crore on Nov 20 |
Post-listing, the stock traded in a tight range of ₹705-₹720 in the first hour, with volumes crossing 5 lakh shares. Analysts attribute the positive sentiment to Sudeep Pharma's diversified portfolio – over 200 products including mineral salts like calcium, zinc, and magnesium – serving 100+ countries across pharma, food, and nutrition sectors. The company's six facilities (50,000 MT capacity) and recent Ireland acquisition via NSS bolster its growth story in a market projected to hit $13 billion for excipients by 2029 (CAGR 4.7%).
Why the Strong Debut?
- Robust Fundamentals: FY25 revenue of ₹1,200 crore (up 15% YoY) and PAT of ₹138.7 crore, driven by exports (70% of sales). Proceeds will fund ₹75.8 crore capex at Nandesari Facility I for expanded production.
- Sector Tailwinds: Global specialty ingredients market to grow at 6.8% CAGR to $118 billion by 2029, fueled by rising demand for clean-label foods and personalized nutrition.
- Investor Appetite: Anchors like ICICI Prudential and SBI Mutual Funds scooped up 45.2 lakh shares at ₹593. Social buzz on X (formerly Twitter) is electric, with traders hailing it as a "multibagger in the making" amid pharma's post-correction rebound.
Book-running lead manager ICICI Securities and registrar MUFG Intime India oversaw a seamless process, with allotment finalized yesterday and shares credited overnight.
What Next for Investors?
Experts like those at Chittorgarh IPO and IPO Watch recommend a "Subscribe for Long-Term" rating, citing undervaluation at 25x FY25 PE versus peers at 35x. However, volatility is expected post-holiday (markets closed Nov 29 for Muharram). Short-term traders eye ₹750 resistance; a break could target ₹800 in 3-6 months.
Sudeep Pharma's debut caps a stellar week for mainboard IPOs – following Excelsoft's 12.5% pop. With big-ticket names like Meesho (GMP ₹33) and Aequs (₹18) queued up, December looks primed for ₹10,000+ crore in fresh listings.
