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What is the story about?
The initial public offering (IPO) of Sudeep Pharma Ltd. closed with a strong subscription on the last day of bidding on Tuesday, November 25. The ₹895-crore mainboard issue was overall subscribed nearly 94 times.
The IPO was open for bidding from November 21-25. On the last day, the Sudeep Pharma IPO attracted bids for over 99 crore shares compared to more than 1.05 crore shares on offer, leading to an overall subscription of 93.71 times, as per the NSE data.
The retail investors booked their category 15.65 times. The Qualified Institutional Buyers’ (QIBs) category was subscribed 213.08 times, while the Non-Institutional Investors (NIIs) booked their segment 116.72 times.
The IPO comprised a fresh issue of 16 lakh shares, amounting to ₹95 crore and an offer-for-sale (OFS) portion of 1.35 crore shares, worth ₹800 crore. The IPO price band was fixed at ₹563 to ₹593 per share. The lot size for an application comprised 25 shares. Retail investors were required to bid for at least a single lot size, amounting to a minimum investment of ₹14,825 per application.
Following the strong subscription, the IPO bidders are waiting for the share allotment. Sudeep Pharma is scheduled to finalise the IPO share allotment status on November 26.
Investors who participated in the subscription can check the Sudeep Pharma IPO allotment status on the official websites of the BSE and NSE. The IPO share allotment status can also be checked on the website of the issue registrar, MUFG Intime India.
Steps to check Sudeep Pharma IPO allotment status on the BSE
Steps to check IPO allotment status on MUFG Intime India:
Sudeep Pharma is expected to initiate refunds and transfer of shares to the demat accounts on November 27. The IPO listing date has been tentatively fixed as November 28. Shares of Sudeep Pharma will be listed on the NSE and BSE.
About Sudeep Pharma and the use of IPO funds
The company has proposed to utilise the IPO funds for capital expenditure towards the procurement of machinery for the production line located at Nandesari Facility I in Vadodara, Gujarat. A portion of the funds will also be used for general corporate purposes.
Sudeep Pharma Ltd. is a manufacturer of pharmaceutical excipients, food-grade minerals and specialty nutrition ingredients. The company, incorporated in 1989, has spread its operations across 100 countries over the years. The company’s combined production capacity stands at 50,000 MT. Sudeep Pharma currently operates six manufacturing units specialising in minerals such as calcium, iron, magnesium, zinc, potassium and sodium. It supplies over 200 products to clients across the pharma, food and nutrition industries.
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The IPO was open for bidding from November 21-25. On the last day, the Sudeep Pharma IPO attracted bids for over 99 crore shares compared to more than 1.05 crore shares on offer, leading to an overall subscription of 93.71 times, as per the NSE data.
The retail investors booked their category 15.65 times. The Qualified Institutional Buyers’ (QIBs) category was subscribed 213.08 times, while the Non-Institutional Investors (NIIs) booked their segment 116.72 times.
The IPO comprised a fresh issue of 16 lakh shares, amounting to ₹95 crore and an offer-for-sale (OFS) portion of 1.35 crore shares, worth ₹800 crore. The IPO price band was fixed at ₹563 to ₹593 per share. The lot size for an application comprised 25 shares. Retail investors were required to bid for at least a single lot size, amounting to a minimum investment of ₹14,825 per application.
Following the strong subscription, the IPO bidders are waiting for the share allotment. Sudeep Pharma is scheduled to finalise the IPO share allotment status on November 26.
Investors who participated in the subscription can check the Sudeep Pharma IPO allotment status on the official websites of the BSE and NSE. The IPO share allotment status can also be checked on the website of the issue registrar, MUFG Intime India.
Steps to check Sudeep Pharma IPO allotment status on the BSE
- Go to the BSE IPO allotment page: https://bseindia.com/investors/appli_check.aspx
- Select 'Equity' as the issue type
- Choose ‘Sudeep Pharma Ltd’ from the dropdown list as the issue name
- Enter your IPO application number or PAN
- Click on ‘Search’ to view the IPO share allotment status
Steps to check IPO allotment status on MUFG Intime India:
- Open the IPO allotment status page on the official website of MUFG Intime India: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
- Choose Sudeep Pharma as the company name from the drop-down list
- Select any of these: PAN, Application Number, DP/Client ID, or Account Number/IFSC
- Enter details as per your selection
- Click on the 'Submit' button to check the allotment status
- Investors can also check Sudeep Pharma IPO share allotment status on the
- NSE website using the PAN and application number.
Sudeep Pharma is expected to initiate refunds and transfer of shares to the demat accounts on November 27. The IPO listing date has been tentatively fixed as November 28. Shares of Sudeep Pharma will be listed on the NSE and BSE.
About Sudeep Pharma and the use of IPO funds
The company has proposed to utilise the IPO funds for capital expenditure towards the procurement of machinery for the production line located at Nandesari Facility I in Vadodara, Gujarat. A portion of the funds will also be used for general corporate purposes.
Sudeep Pharma Ltd. is a manufacturer of pharmaceutical excipients, food-grade minerals and specialty nutrition ingredients. The company, incorporated in 1989, has spread its operations across 100 countries over the years. The company’s combined production capacity stands at 50,000 MT. Sudeep Pharma currently operates six manufacturing units specialising in minerals such as calcium, iron, magnesium, zinc, potassium and sodium. It supplies over 200 products to clients across the pharma, food and nutrition industries.
Also Read: 'Do not expect miracles' — A Suzlon bull's advice to investors
