Sudeep Pharma’s Initial Public Offer received 93.72 times subscription on the last day of bidding. The pharmaceutical company’s IPO received a total of 99,00,99,900 bids for 1,05,64,926 shares on offer.
Category-wise subscription
The IPO’s Qualified Institutional Buyers category saw the highest 213.08 times subscription. The category fetched 64,31,88,450 bids for 30,18,550 offered shares. The Non-Institutional Investor’s category saw 116.72 times subscription, receiving 26,42,40,450 bids for 22,63,913 shares on offer.
Sudeep Pharma’s IPO’s Retail Individual Investors category saw the weakest response, getting 15.65 times subscription and 8,26,71,075 bids for 52,82,463 shares.
Sudeep Pharma IPO size
Sudeep Pharma’s offer’s price band has been fixed at Rs 563-593 per equity share. The IPO has a fresh issue of equity shares worth Rs 95 crore and an offer-for-sale of nearly 1.35 crore equity shares, aggregating to Rs 800 crore, by the promoters.
Proceeds from the fresh issue to the tune of Rs 75.81 crore will be used for capital expenditure towards the procurement of machinery for its production line located at the Nandesari Facility 1, Gujarat, and for general corporate purposes.
Sudeep Pharma is a technology-led manufacturer of excipients and speciality ingredients for the pharmaceutical, food, and nutrition industries,