Sudeep Pharma IPO opened for subscription today, November 21. The company aims to raise Rs 895 crore from investors by going public.
Sudeep Pharma IPO details
The issue has two parts fresh issue and an offer for sale. There are 0.16 crore fresh shares worth Rs 95 crores and 1.35 crore shares selling in OFS, amounting to Rs 800 crores. The company has set the IPO price band between Rs 563 and Rs 593 per equity share.
Sudeep Pharma IPO: GMP
The company’s shares were fetching a grey market premium (GMP) of 20%. This has dropped a bit from 22%, which it was seeing on November 19. The current GMP indicates that the stock might list around Rs 713, shelling out gains of Rs 3,000 on one lot.
However, investors should be aware that the grey market is an unofficial place where shares change hands illegally. It is not the correct measure for listing price, and listing prices differ a lot.
Sudeep Pharma IPO: Anchor allocation
Sudeep Pharma raised Rs 268.5 crore from anchor investors ahead of launching IPO. The company allocated 45,27,823 equity shares at Rs 593 per share to anchor investors.
Out of the total allocation of 45,27,823 equity shares to the anchor investors, 36,05,799 were allocated to 14 domestic mutual funds through schemes.
Some of the marquee institutions that participated in the anchor issue include SBI Healthcare Opportunities Fund, HDFC Mutual Fund – HDFC Innovation Fund, HDFC Mutual Fund – HDFC Manufacturing Fund, ICICI Prudential MNC Fund, Nippon Life India Trustee, and many others.
Sudeep Pharma IPO: Allotment and listing
The allotment for the IPO is expected to be finalised on November 26. The issue is likely to be listed on the exchanges, BSE and NSE, on November 28, as per the tentative schedule.
Sudeep Pharma IPO: Lot size
A retail applicant needs to apply for a minimum of one lot of 25 shares, amounting to Rs 14,825. The lot size investment for a small NII is 14 lots of 350 shares, equalling Rs 2 lakh, and for a big NII, it is 68 lots of 1,700 shares, totalling Rs 10 lakh.
Sudeep Pharma IPO: Book running lead manager and registrar
ICICI Securities is the book-running lead manager for the IPO, and MUFG Intime India is the registrar of the issue.
About Sudeep Pharma
Sudeep Pharma is a manufacturer of pharmaceutical excipients, food-grade minerals, and speciality nutrition ingredients serving over 100 countries. The company operates six manufacturing facilities with a combined production capacity of 50,000 MT, specialising in minerals such as calcium, iron, magnesium, zinc, potassium, and sodium
The company supplies more than 200 products to a diverse customer base across the pharma, food, and nutrition sectors
