Sudeep Pharma IPO: Check allotment status, odds of getting shares, latest GMP & more

Sudeep Pharma is scheduled to finalize the basis of allotment of its shares on Wednesday, November 26. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Thursday, November 27. The pharmaceutical excipients manufacturer saw a bumper response from the investors during the bidding process.

The IPO of Sudeep Pharma was open for subscription between November 21 and November 25. It had offered its shares in the price band of Rs 563-593 per share with a lot size of 25 shares. The company raised a total of Rs 895 crore from its IPO, which included a fresh share sale of Rs 95 crore and an offer-for-sale (OFS) of up to 1,34,90,726 equity shares worth Rs 800 crore.

The issue was overall subscribed a total of 93.72 times, attracting bids over Rs 58,700 crore through over 29.86 lakh applications. The portion for qualified-institutional bidders (QIBs) was subscribed 213.08 times, while the non-institutional investors (NIIs) quota was booked 116.72 times. The allocation for retail investors was subscribed 15.65 times during the three-day bidding process.

Based on the bidding, here are the odds of allotment for IPO of Sudeep Pharma:

• Big HNI category: 1 investor out of 27 investors will get 350 shares (Probability: 3.70 per cent)
• Small HNI category: 1 investor out of 76 investors will get 350 shares (Probability: 1.31 per cent)
• Retail category: 1 investor out of 25 investors will get 1,750 shares. (Probability: 7.69 per cent)

The grey market premium (GMP) of Sudeep Pharma has seen a sharp correction despite getting strong bids led by muted market sentiments. Last heard, it was commanding a premium of Rs 95-100 in the unofficial market, suggesting a listing pop of around 17 per cent for the investors. The GMP stood around Rs 120 during the bidding period.

Vadodara-based Sudeep Pharma, incorporated in 1989, is a manufacturer of pharmaceutical excipients, food-grade minerals, and specialty nutrition ingredients serving over 100 countries. It operates six manufacturing facilities with a combined production capacity of 50,000 MT, specializing in minerals such as calcium, iron, magnesium, zinc, potassium, and sodium.

IIFL Capital Services and ICICI Securities are the book running lead managers for the Sudeep Pharma IPO and MUFG Intime India is the registrar of the issue. Refund initiations and credit of shares is likely to be done by Thursday, November 27. Shares of the company shall be listed on both BSE and NSE on Friday, November 28.

Investors, who had bid for the issue of Sudeep Pharma, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1. Visit https://www.bseindia.com/investors/appli_check.aspx
2. Under the issue type, click Equity
3. Under the issue name, select Sudeep Pharma Limited in the dropbox
4. Write the application number
5. Add the PAN card ID
6. Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of MUFG Intime India (https://in.mpms.mufg.com/Initial_Offer/public-issues.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

1. Go to the web portal of MUFG Intime India Limited
2. Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized
3. You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4. In application type, select between ASBA and non-ASBA
5. Enter the details of the mode you selected in Step 2
6. For security purposes, fill the captcha accurately
7. Hit submit.