Sudeep Pharma IPO: The IPO of Vadodara based pharma company Sudeep Pharma is opening today on 21st November. Investors will be able to bid for this till November 25. The company plans to raise Rs 895 crore through fresh issue of Rs 95 crore and offer-for-sale (OFS) of Rs 800 crore.
The price limit for the IPO has been fixed at Rs 563-593 per equity share, which will take the company’s value at the top end to around Rs 6,700 crore. In the IPO, bidding will have to be done for a lot of 25 shares, for which investors will have to invest at least Rs 14,825.
When will the shares be allotted?
Shares for the IPO can be allotted on 26th November, while its shares will be listed on 28th November. ICICI Securities Limited and IIFL Capital Services are the book-running lead managers and MUFG Intime India Private Limited is the registrar. Part in the IPO has also been reserved for Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs).
The company has already raised Rs 268.5 crore from anchor investors, in which big mutual funds like SBI, ICICI Prudential, HDFC, Axis, Nippon, Aditya Birla and Bandhan participated. Marquee investors like Mukul Aggarwal (Param Capital Sanshi Fund-I), Manoj Garg (WhiteOak), and Prashant Jain (3P Investments) have also invested as anchors.
What does the company do?
Sudeep Pharma serves more than 1100 customers, which include Pfizer Inc., MannKind Pharma, Merck Group, Aurobindo Pharma, Cadila Pharmaceutical, IMCD Asia Pte Ltd and Danone SA. This company manufactures food-grade iron phosphate for children and clinical nutrition, with a total annual manufacturing capacity of 72,246 metric tons by June 2025.
How much is GMP?
Shares of Sudeep Pharma are seen trading at 19 percent premium in the unlisted market. The current gray market premium (GMP) is Rs 115, which indicates listing of shares at Rs 708. However, GMPs only indicate market sentiment and can change rapidly.
Disclaimer: (The information provided here is being given for information only. It is important to mention here that investment in the market is subject to market risks. Always take expert advice before investing money as an investor. ABPLive.com never advises anyone to invest money here.)
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