Sudeep Pharma sets IPO price band at Rs 563-593; issue to open on November 21

Core Viewpoint - Sudeep Pharma has set a price band of Rs 563–593 for its initial public offering (IPO) of Rs 895 crore, which will open for subscription on November 21 and close on November 25, with an anchor book opening on November 20 [1][7]. Group 1: IPO Details - The IPO consists of a fresh issue of Rs 95 crore and an offer for sale (OFS) of 1,34,90,726 shares by promoter and promoter group shareholders, amounting to Rs 800 crore at the upper end of the price band [1][2]. - At the lower price band of Rs 563, the total offer size is Rs 854.5 crore, while at the upper band, it reaches Rs 895 crore [2][7]. - Investors can bid for a minimum of 25 equity shares, and in multiples of 25 thereafter [2][7]. Group 2: Use of Proceeds - The company plans to allocate Rs 75.8 crore from the fresh issue towards capital expenditure for procuring machinery for its production line at the Nandesari Facility 1 in Gujarat, with the remaining funds directed towards general corporate purposes [2][7]. Group 3: Company Overview - Sudeep Pharma is a technology-driven manufacturer of excipients and specialty ingredients utilized in the pharmaceutical, food, and nutrition sectors, leveraging in-house technologies to enhance innovation and manufacturing efficiency [3][7]. - The company has established a global presence in over 100 countries, with significant market penetration in the US, South America, Europe, the Middle East, Africa, and Asia-Pacific [5][7]. - Sudeep Pharma is one of the largest producers of food-grade iron phosphate, with an annual manufacturing capacity of 72,246 metric tonnes as of June 30, 2025 [5][7]. Group 4: Client Relationships - Over the years, Sudeep Pharma has built relationships with more than 1,100 customers worldwide, including notable clients such as Pfizer Inc, Mankind Pharma, and Merck Group [6][7]. - The IPO will be offered through a book-building route, with allocations of not more than 50% for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 35% for retail individual investors [6][8].