The IPO of Sudeep Pharma, which opened on November 21, will close today, November 25. By the second day, the issue was subscribed 5.09 times, reflecting strong investor demand, and applicants can still place bids today. The price band has been set at ₹563–₹593 per share, with 50% reserved for QIBs, 15% for NIIs, and 35% for retail investors.
Provisional allotment will be announced on November 26, followed by refunds and credit of shares on November 27. Trading is expected to begin on the BSE and NSE on November 28. The Gujarat-based company is a major producer of food-grade iron phosphate and other mineral-based ingredients, operating six plants with a combined capacity of 50,000 MT.
The IPO’s grey market premium stands at ₹86, implying an estimated listing price of around ₹679—about 14.5% above the upper issue price. Subscription reached 8.39 times by day two, with strong demand from retail (6.75x) and NIIs (23.20x).
Brokerages note that while the IPO appears fully or aggressively valued at a P/E of 45–48x, Sudeep Pharma’s strong financials, global clientele, and expansion into battery-grade materials support long-term growth. Most analysts recommend subscribing with a medium- to long-term view.
