Sudeep Pharma Share Listing: Pharma sector company Sudeep Pharma has made a wonderful entry in the stock market. On Friday, its shares were listed on BSE with a profit of 23 percent over its IPO price. This issue of Rs 895 crore, which was opened for subscription between 21 and 25 November, received 93.71 times more bids.
Today its shares were listed at Rs 730 on NSE and Rs 725 on BSE, while the upper price band of the IPO was Rs 593. In this way the company made a strong start with a market capitalization of about Rs 8,188 crore. A day before the IPO launch, Sudeep Pharma had raised Rs 268.5 crore from anchor investors, which shows strong institutional demand for the offering.
Further rise after listing
After the bumper listing, the shares gained even more momentum and jumped 6 percent to Rs 786.40 on BSE. That means the share rose by more than 30 percent from the IPO price of Rs 593. On NSE too, with a rise of more than 7 percent, shares of Sudeep Pharma have reached the level of Rs 788.05.
What does the company do?
Sudeep Pharma manufactures mineral-based excipients and specialty ingredients that are used in pharmaceuticals, nutraceuticals, food and nutrition products. Its portfolio includes calcium, magnesium, iron, zinc, sodium and potassium salts, which go into tablets, supplements and fortified foods. The company runs several plants, including a special facility in Nandesari, Gujarat. The company has a strong hold in the international market also. Its products are exported on a large scale.
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