Sudeep Pharma’s continued its strong momentum as it entered the final day of bidding, with the issue subscribed 5.09 times by the end of day two.
The surge has been driven largely by non-institutional investors (NIIs), who have subscribed 12.00 times, while the retail segment stood at 4.97 times. The qualified institutional buyer (QIB) category remains relatively modest at 0.13 times, but the overall sentiment remains positive as the issue heads into its final day.
The is a combination of both a fresh issue and an offer for sale, amounting to a total issue size of approximately ₹895 crore. Of this, ₹95 crore is through fresh issuance, which will be used primarily for capacity expansion and working-capital requirements. The remaining amount is through the sale of existing shareholders’ equity.
The company has set a price band of ₹563–₹593 per share, and investors can bid in lots of 25 shares. The issue opened for subscription on November 21, 2025, and will conclude today, November 25, 2025.
Ahead of the public offering, Sudeep Pharma raised around
Sudeep Pharma is a manufacturer of mineral-based excipients and specialty ingredients catering to the pharmaceutical, nutrition, and food sectors.
Brokerages issued broadly positive recommendations on the IPO. Many analysts suggest that the company is well-positioned for medium- to long-term growth, citing its leadership in specialised excipients and its expanding capacity.
They highlight the company’s strong global presence, regulatory-compliant manufacturing facilities, and diversified product portfolio as factors contributing to growth visibility. However, concerns around valuation have been raised.
The IPO has been tracking a healthy grey market premium (GMP), indicating the potential for a strong listing.
The basis of allotment is expected to be finalised on November 26, 2025, while listing on the NSE and BSE is tentatively scheduled for November 28, 2025.
With subscription levels rising sharply in the NII and retail categories, Sudeep Pharma’s IPO has attracted considerable investor interest heading into the final day.
The company’s strong fundamentals, established export markets, and specialty manufacturing capabilities continue to appeal to long-term investors. Valuations remain a point of debate, but if grey-market trends hold, the stock is poised for a solid market debut.