Sudeep Pharma IPO entered the final day of bidding today, November 25. The IPO, a mainboard issue, was opened for subscription on November 21. As the issue entered its last day of subscription, all eyes are now on the grey market premium, the allotment timeline, and listing.
Let’s take a look at the key factors to watch out for this issue –
Sudeep Pharma IPO: GMP trend on Day 3
As of the latest, the shares of Sudeep Pharma are trading at Rs 86 per share in the unofficial market.
The GMP indicates a potential listing price of around Rs 679 per share against the issue’s upper price band of Rs 593. This suggests an estimated upside of 14.5% over the issue price.
However, it is important to note that the grey market does not guarantee the actual listing outcome and changes as per market sentiment.
Sudeep Pharma IPO: What does IPO structure looks like
Through this public offering, the company is raising Rs 895 crore. The issue is a combination of fresh shares and an offer for sale.
Breaking it down, the fresh issue consists of 16 lakh shares, adding up to Rs 95 crore, while the 1.35 crore shares in the offer for sale amount to Rs 800 crore.
Furthermore, the price band has been fixed between Rs 563-593 per share. The minimum lot size for retail investors is 25 shares, requiring a minimum investment of Rs 14,825 at the upper price band. For small non-institutional investors, the minimum bid size is 350 shares, while large non-institutional investors must apply for at least 1,700 shares.
Sudeep Pharma IPO: When is the allotment?
With bidding ending today, the next important date for investors is the share allotment. The allotment is expected to be finalised on Wednesday, November 26.
Once announced, applicants can check their status on the websites of the BSE, the NSE and the registrar, MUFG Intime India.
Refunds and credit of shares to demat accounts are likely to be completed by Thursday, November 27.
Sudeep Pharma IPO: Listing expected this week
Shares of Sudeep Pharma are expected to list on both the NSE and the BSE on November 28.
About the company
The company was founded in 1989. Sudeep Pharma makes ingredients used by pharmaceutical, food, and nutrition companies. The firm supplies minerals such as calcium, iron, zinc, magnesium and sodium to more than 100 countries. It operates six manufacturing units with a combined capacity of 50,000 metric tonnes, offering over 200 products.
