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Sudeep Pharma Launches ₹895 Crore IPO at ₹563–₹593 Price Band
Sudeep Pharma’s IPO to Fund Capacity Expansion at Gujarat Manufacturing Facility
Global Supplier to Pfizer and Danone, Sudeep Pharma Steps into Capital Markets with ₹895 Crore Issue
Sudeep Pharma Launches ₹895 Crore IPO; Price Band Set at ₹563–₹593
Ahmedabad | 19 Nov 2025
Sudeep Pharma Limited, one of India’s leading manufacturers of pharmaceutical excipients and specialty nutrition ingredients, has announced that its maiden Initial Public Offer (IPO) will open for subscription on Friday, November 21, 2025, and close on Tuesday, November 25, 2025. The company has fixed the price band at ₹563–₹593 per equity share, with a lot size of 25 shares and multiples thereof. The Anchor Book will open on November 20, 2025.
The ₹895 crore IPO comprises a fresh issue of ₹95 crore and an offer-for-sale (OFS) of 13,490,726 equity shares valued at ₹800 crore by promoter and promoter-group shareholders. Proceeds from the fresh issue will fund capital expenditure—primarily machinery procurement for the company’s Nandesari Facility 1 in Gujarat—and general corporate purposes.
“Strengthening capacity to meet global demand”
Speaking at the announcement in Ahmedabad, Sujit Jaysukh Bhayani, Chairman & Managing Director, Sudeep Pharma, said:
“This IPO marks a significant milestone in Sudeep Pharma’s journey of over three decades. The funds raised will help us expand capacity, upgrade technology, and strengthen our manufacturing efficiencies to meet rising global demand for high-quality pharmaceutical and nutritional ingredients.”
Scaled footprint with global trust
Established in 1989, Sudeep Pharma is today ranked among India’s top five players in its category, supplying over 1,100 customers across 100 countries, including the United States, Europe, South America, Africa, the Middle East, and Asia-Pacific. The company’s products meet international pharmacopeial standards including USP/NF, EP, and BP, and one of its facilities is US-FDA approved for manufacturing mineral-based ingredients.
Shanil Sujit Bhayani, Whole Time Director, highlighted the company’s technology-driven model:
“We have developed in-house expertise in advanced processes such as spray drying, encapsulation, granulation, trituration, blending, and liposomal formulations. This focus on innovation helps us provide superior quality, consistent performance, and value for customers across pharmaceutical, food, and nutrition sectors.”
With a combined manufacturing capacity of over 72,000 MT per year, Sudeep Pharma is among the biggest producers of food-grade iron phosphate used in infant and clinical nutrition. The company employs 946 people and reported revenue of ₹511 crore in FY 2024–25, registering double-digit growth.
“A business built on reliability and long-term partnerships”
Over the years, the company has built strong relationships with marquee clients, including Pfizer, Intas, Mankind, Merck Group, Cadila, Aurobindo, Alembic, Micro Labs, IMCD Asia, and Danone.
Chief Financial Officer Ketan Jagdishchandra Vyas noted:
“Our strength lies in stringent controls, quality governance, and the trust placed in us by customers over decades. More than product sales, we build long-term partnerships through reliability and scientific precision.”
Offering structure
The IPO is being made through the book-building route, where:
Not more than 50% will be reserved for Qualified Institutional Buyers (QIBs)
Up to 15% will be allocated to Non-Institutional Investors (NIIs)
Up to 35% will be offered to Retail Individual Investors (RIIs)
ICICI Securities Limited and IIFL Capital Services Ltd are acting as Book-Running Lead Managers, while MUFG Intime India Pvt Ltd is the Registrar to the issue.
“Positioned for the next phase of global scale”
Representing the lead managers, Rajat Rawal of ICICI Securities commented:
“Sudeep Pharma has demonstrated consistent growth, operational depth, and industry leadership. The IPO supports the company’s next phase of technological scaling and global expansion.”
With a 36-year history, deep international presence, and expansion-ready infrastructure, Sudeep Pharma aims to leverage this public listing to further strengthen its position in the global healthcare and nutrition supply chain.
Disclaimer: This news is for informational purposes only. Please refer to official offer documents and consult a financial advisor before investing.
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