Sudeep Pharma surges 23% on market debut
Sudeep Pharma shares made a strong debut on Friday, listing at ₹730 on the NSE — a 23% premium to the IPO issue price of ₹593. On the BSE, the stock opened slightly higher at ₹733.95, up nearly 24%.
One IPO lot contained 25 shares, giving allottees a listing gain of ₹18,250 per lot, News.Az reports, citing foreign media.
The company’s ₹895 crore IPO included a ₹95 crore fresh issue and an ₹800 crore offer for sale by promoter group members. Proceeds from the fresh issue will go toward machinery purchases and general corporate needs.
The issue saw overwhelming interest, subscribing 93.72 times overall, with strong demand from QIBs at 213 times. Before the IPO opened, Sudeep Pharma raised ₹268.5 crore from anchor investors, including major mutual funds and insurers.
Sudeep Pharma manufactures pharmaceutical excipients and speciality ingredients for the global healthcare industry.
Similar news
