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Sudeep Pharma Ltd
ChemicalsIPO
₹593 - 593
We are a technology led manufacturer of excipients and specialty ingredients for the pharmaceutical, food and nutrition industries. We have established a presence in both, domestic and international markets, including key regions such as the United States, South America, Europe, the Middle East, Africa, and Asia-Pacific. We operate three manufacturing facilities in Vadodara, Gujarat as of June 30, 2025. Further, pursuant to our acquisition of NSS as a Material Subsidiary with effect from May 22, 2025, we also have a manufacturing facility in Ireland. For details in relation to expenses incurred by us on research and development.
Lot25Min Invest₹14,825Face Value₹1Issue Size₹895 CrFresh Issue₹95 CrOffer for Sale₹800 CrListing Price₹734CMP₹966
Timeline
21 Nov
Bidding opens
25 Nov
Bidding closes
26 Nov
Allotment
27 Nov
Refund & demat credit
28 Nov
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹895 Cr1.51 Cr shares
Fresh Issue₹95 Cr
Offer for Sale₹800 Cr
Face Value₹1
Lot Size25 shares
ReservationQIB 50% · NII 15% · RETAIL 35%
Application Sizes
Retail₹14,8251-13 lots
sNII₹2,07,550from 14 lots
bNII₹10,08,100from 68 lots
Managers & Registrar
Lead ManagerICICI Securities Limited
Co-ManagerIIFL Capital Services Limited
RegistrarMUFG Intime India Pvt Ltd
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrSujit Jaysukh BhayaniPRMTR35,67,670211.56Sujeet Jaysukh Bhayani HUFPRMTR84,18,856499.24Shanil Sujit BhayaniPRMTR7,50,00044.48Avani Sujit BhayaniPRMTR7,54,20044.72Total1,34,90,726800.00
Shareholding
CategoryPre IPOPost IPOPromoter Group89.37%76.19%Public10.63%23.81%
Objects of the Issue
- Capital expenditure towards procurement of machinery for our production line located at Nandesari Facility I
- General corporate purposes
Financials
Profit & Loss
| Financial Year | FY23 | FY24 | FY25 | FY26 | Latest |
|---|---|---|---|---|---|
| RevenueCr | 429 | 459 | 502 | 642 | 676 |
| Operating ProfitCr | 89 | 182 | 190 | 222 | 233 |
| OPM% | 20.8 | 39.5 | 37.8 | 34.5 | 34.5 |
| PBTCr | 86 | 175 | 183 | 228 | 238 |
| PATCr | 62 | 133 | 139 | 174 | 184 |
| EPS | 6 | 12 | 13 | 16 | 16 |
Balance Sheet
| Financial Year | FY23 | FY24 | FY25 | FY26 | Latest |
|---|---|---|---|---|---|
| Equity CapitalCr | 1 | 1 | 10 | 11 | - |
| ReservesCr | 222 | 355 | 481 | 872 | - |
| BorrowingsCr | 83 | 78 | 138 | 150 | - |
| Fixed AssetsCr | - | - | 189 | 344 | - |
| Total AssetsCr | 420 | 514 | 717 | 1,175 | - |
Cash Flow
| Financial Year | FY23 | FY24 | FY25 | FY26 | Latest |
|---|---|---|---|---|---|
| Operating Cash FlowCr | 48 | 66 | 49 | 70 | - |
| Investing Cash FlowCr | -50 | -49 | -79 | -331 | - |
| Financing Cash FlowCr | -10 | -13 | 53 | 247 | - |
| Net Cash FlowCr | -11 | 4 | 23 | -14 | - |
Strengths & Risks
Strengths · as stated in the DRHP
- Market leadership with a diversified product portfolio in a high barrier industry.
- Distinguished global customer base with long-standing relationships with key customers.
- Well-equipped and regulatory compliant Manufacturing Facilities.
- Strong research and development capabilities.
- Experienced Promoters and senior management team.
Strategies · as stated in the DRHP
- Expand into high-growth businesses.
- Expand market reach through multiple growth initiatives.
- Develop customized solutions and enter into strategic partnerships to drive growth.
- Integrate recently acquired entities and continue evaluating inorganic growth opportunities.
- Enhance manufacturing capabilities.
Risks · as stated in the DRHP
- The company generates a significant portion of its revenues from a limited number of customers and the loss of such customers or a decline in demand from such customers could adversely affect the company's business, results of operations, financial condition, and cash flows.
- The company generated 66.43%, 65.84%, 67.64% and 77.01% of its revenue from operations from the company's pharmaceutical, food and nutrition segment, in the three months ended June 30, 2025 and Fiscals 2025, 2024 and 2023, respectively. Any adverse developments affecting this segment may adversely affect its business, results of operations, financial condition, and cash flows.
- The company's Manufacturing Facilities are subject to periodic inspections and audits by regulatory authorities and customers and any manufacturing or quality control problems may subject us to regulatory action, damage its eputation and have an adverse effect on its business and results of operations.
- Three of the company's four Manufacturing Facilities and one of its two R&D facilities are concentrated in a single region and any adverse developments affecting this region could have an adverse effect on the company's business, results of operations, financial condition and cash flows.
- Any disruption, slowdown or shutdown in the company's manufacturing or R&D operations could adversely affect its business, results of operations, financial condition and cash flows.
- The company generates a substantial portion of its revenue from operations from the company's export sales (58.68%, 59.27%, 64.43% and 68.45% of its revenue from operations for the three months ended June 30, 2025 and Fiscals 2025, 2024 and 2023, respectively) and any adverse developments in such regions, including the imposition of tariffs or other anti-sourcing legislation, could adversely affect the company's business, results of operations, financial condition and cash flows.