Sudeep Pharma IPO Day 3 LIVE: Sudeep Pharma’s initial public offering (IPO) entered its last day of bidding today, November 25, after garnering 5.09 times bids by the end of the second day.
Last week, ahead of IPO opening, Sudeep Pharma announced that it had raised ₹268.5 crore from anchor investors.
The ₹895 crore IPO, which closes today, is priced in the range of ₹563– ₹593 per share. It includes a fresh issuance of shares worth ₹95 crore and an offer for sale of nearly 1.35 crore shares valued at ₹800 crore by the promoters.
The company plans to allocate ₹75.81 crore from the fresh issue toward capital expenditure for purchasing machinery for its production line at the Nandesari Facility 1 in Gujarat, in addition to funding general corporate purposes.
Sudeep Pharma is a technology-driven manufacturer of excipients and specialty ingredients serving the pharmaceutical, food, and nutrition sectors, with a focus on supporting the global healthcare ecosystem.
Sudeep Pharma IPO GMP
Sudeep Pharma IPO GMP today fell to ₹86 today. This means that shares of Sudeep Pharma are trading ₹86 higher than the upper end of the price band of ₹593. At the prevailing GMP, Sudeep Pharma IPO listing price could be ₹679 — a premium of 14.50%.
Watch this space for LIVE updates on Sudeep Pharma IPO.
