Gujarat-based Sudeep Pharma files draft papers for IPO
The IPO comprises a fresh issue worth Rs 95 crore and an offer for sale (OFS) of up to 1,00,76,492 equity shares by the promoter selling shareholder.
- Jun 25, 2025,
- Updated Jun 25, 2025 3:06 PM IST
Gujarat-based Sudeep Pharma Ltd, known for its technology-driven production of excipients and specialty ingredients, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO). The IPO comprises a fresh issue worth Rs 95 crore and an offer for sale (OFS) of up to 1,00,76,492 equity shares by the promoter selling shareholder.
The OFS includes contributions from Sujit Jaysukh Bhayani, Sujeet Jaysukh Bhayani HUF, Shanil Sujit Bhayani, and Avani Sujit Bhayani, totalling over one crore shares. This move is expected to allow the promoters to liquidate some of their holdings while retaining control.
Sudeep Pharma plans to use Rs 75.81 crore from the fresh issuance for capital expenditure, specifically to procure machinery for its Nandesari Facility I, and for general corporate purposes. This capital investment is aimed at enhancing production capabilities and meeting growing demand.
Since its inception in 1989, Sudeep Pharma has expanded its operations to include over 100 products across pharmaceutical, food, and nutrition sectors. The company operates three manufacturing facilities in Vadodara, Gujarat, with a combined capacity of 65,579 metric tons and serves customers globally.
The firm's financials reveal a revenue increase of 7.12 per cent from Rs 428.74 crore in Fiscal 2023 to Rs 459.28 crore in Fiscal 2024. Profit after tax (PAT) surged to Rs 133.15 crore in Fiscal 2024, demonstrating robust growth, primarily due to increased sales of calcium carbonate and speciality ingredients.
Operating within both domestic and international markets, Sudeep Pharma exports to around 100 countries and maintains regional offices in the United States, Europe, the UK and Latin America. Collaborations with prominent clients such as Pfizer, Intas Pharmaceuticals and Danone showcase its industry prominence.
The IPO will be managed by ICICI Securities Ltd and IIFL Capital Services Ltd, with MUFG Intime India Pvt Ltd serving as the registrar. The shares will be listed on both BSE and NSE.
The book-building process will allocate 50 per cent of the offer to qualified institutional buyers (QIBs), 15 per cent to non-institutional bidders and 35 per cent to retail individual bidders.
Gujarat-based Sudeep Pharma Ltd, known for its technology-driven production of excipients and specialty ingredients, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO). The IPO comprises a fresh issue worth Rs 95 crore and an offer for sale (OFS) of up to 1,00,76,492 equity shares by the promoter selling shareholder.
The OFS includes contributions from Sujit Jaysukh Bhayani, Sujeet Jaysukh Bhayani HUF, Shanil Sujit Bhayani, and Avani Sujit Bhayani, totalling over one crore shares. This move is expected to allow the promoters to liquidate some of their holdings while retaining control.
Sudeep Pharma plans to use Rs 75.81 crore from the fresh issuance for capital expenditure, specifically to procure machinery for its Nandesari Facility I, and for general corporate purposes. This capital investment is aimed at enhancing production capabilities and meeting growing demand.
Since its inception in 1989, Sudeep Pharma has expanded its operations to include over 100 products across pharmaceutical, food, and nutrition sectors. The company operates three manufacturing facilities in Vadodara, Gujarat, with a combined capacity of 65,579 metric tons and serves customers globally.
The firm's financials reveal a revenue increase of 7.12 per cent from Rs 428.74 crore in Fiscal 2023 to Rs 459.28 crore in Fiscal 2024. Profit after tax (PAT) surged to Rs 133.15 crore in Fiscal 2024, demonstrating robust growth, primarily due to increased sales of calcium carbonate and speciality ingredients.
Operating within both domestic and international markets, Sudeep Pharma exports to around 100 countries and maintains regional offices in the United States, Europe, the UK and Latin America. Collaborations with prominent clients such as Pfizer, Intas Pharmaceuticals and Danone showcase its industry prominence.
The IPO will be managed by ICICI Securities Ltd and IIFL Capital Services Ltd, with MUFG Intime India Pvt Ltd serving as the registrar. The shares will be listed on both BSE and NSE.
The book-building process will allocate 50 per cent of the offer to qualified institutional buyers (QIBs), 15 per cent to non-institutional bidders and 35 per cent to retail individual bidders.