Indian stock markets witnessed a spectacular debut from Sudeep Pharma Limited as the specialty chemicals manufacturer made its trading entry with impressive gains on Friday, November 28, 2025. The company's shares listed at a significant premium to their issue price, delivering immediate returns to investors who participated in the initial public offering.
Robust Market Debut Exceeds Expectations
Sudeep Pharma share price commenced trading at ₹730 per share on the National Stock Exchange, representing a handsome premium of 23.10% over the issue price of ₹593. The positive momentum was equally strong on the Bombay Stock Exchange, where the stock listed at ₹733.95, marking a 23.77% jump from the issue price.
The listing performance comfortably surpassed market expectations, as indicated by the grey market premium (GMP) trends. Prior to listing, the GMP for Sudeep Pharma IPO stood at ₹121 per share, which had suggested a likely listing price of approximately ₹714 – translating to a 20.40% premium. The actual debut prices on both exchanges demonstrated stronger investor confidence than anticipated.
IPO Details and Subscription Response
The ₹895-crore public issue comprised a combination of fresh issuance and offer for sale (OFS) components. The fresh issue involved 16 lakh shares amounting to ₹95 crore, while the OFS consisted of 1.35 crore shares valued at ₹800 crore. Under the offer for sale, promoters Sujit Jaysukh Bhayani, Avani Sujit Bhayani, Shanil Sujit Bhayani and Sujeet Jaysukh Bhayani HUF divested portions of their holdings.
The IPO witnessed overwhelming investor response during the bidding period from November 21 to November 25. The overall subscription reached 93.71 times the offered shares, highlighting tremendous market appetite for the specialty chemicals company. The breakdown revealed particularly strong interest from qualified institutional buyers (QIBs), whose portion was subscribed 213.08 times. Non-institutional investors booked 116.72 times their allocated quota, while retail investors subscribed 15.65 times their reserved portion.
In total, the company received bids for 99 crore shares against 1.05 crore shares on offer, demonstrating massive oversubscription across all investor categories.
Financial Performance and Growth Trajectory
Sudeep Pharma has demonstrated consistent financial growth, strengthening its position as a reliable specialty chemicals and ingredients manufacturer. The company reported revenue growth from ₹459.28 crore in FY24 to ₹501.99 crore in FY25, marking an increase of approximately 9.3%. This revenue expansion was complemented by significant asset growth, with total assets jumping from ₹513.86 crore to ₹717.17 crore – a substantial 39.6% increase that reflects the company's operational scaling.
Profitability metrics also showed positive momentum, with net profit improving from ₹133.18 crore in FY24 to ₹138.69 crore in FY25, representing growth of about 4.1%. This steady profitability underscores the company's efficient operations and stable business model.
Utilization of IPO Proceeds and Future Plans
The net proceeds from the fresh issue component are earmarked for specific growth initiatives. ₹75.81 crore is allocated for capital expenditure, specifically for procuring machinery for the production line at the company's Nandesari Facility I. An additional ₹12.67 crore will be directed toward general corporate purposes, providing operational flexibility and supporting ongoing business requirements.
Sudeep Pharma specializes in manufacturing excipients and high-value formulations that serve pharmaceutical, food, and nutrition companies globally. The company's portfolio is designed to enhance product quality, stability, and performance across multiple categories, positioning it as a significant player in the specialty ingredients segment. Its client base spans both Indian and international markets, with a reputation for delivering comprehensive ingredient solutions tailored to highly regulated industries.
The IPO process was managed by ICICI Securities as the book-running lead manager, with MUFG Intime India Pvt. Ltd. serving as the registrar. The successful listing marks an important milestone for Sudeep Pharma as it transitions into a publicly traded company with expanded opportunities for growth and market presence.
