Sudeep Pharma IPO Heats Up on Day 2; Issue Subscribed 300% as GMP Shows 19% Potential Gain; Apply or Skip?

The Sudeep Pharma IPO entered its second day of bidding with a bang, attracting huge amounts of interest from investors. Momentum is also building in the grey market, where the IPO is currently trading at a premium of around Rs. 115, indicating expected listing gains of nearly 19% for successful allottees. Subscription numbers for the IPO are also very strong, with the issue already oversubscribed close to 3 times overall by midday on Day 2.

Sudeep Pharma IPO Subscription Status on Day 2

On November 24, the Sudeep Pharma IPO was subscribed 2.97 times within just two days of bidding. At around 1PM the retail category showed the strongest response, with subscriptions reaching 3.14 times. The NII segment saw a subscription of 6.41 times, while the QIB category, excluding anchor investors, stood at 0.10 times, which is common during early bidding days as institutional investors typically participate closer to the closing date.

Sudeep Pharma IPO GMP Today

In the unregulated grey market, the Sudeep Pharma IPO GMP is trending at Rs. 112 as of 10:58 AM on November 24, 2025, suggesting steady buyer interest ahead of listing. With the Sudeep Pharma IPO price band set between Rs. 563 and Rs. 593 per share, the estimated listing price is around Rs. 705, implying a potential gain of nearly 18.89% for investors who receive share allotment.

Sudeep Pharma IPO Details

The Sudeep Pharma IPO size stands at Rs. 895 crore, comprising a fresh issue of Rs. 95 crore and an offer for sale (OFS) of Rs. 800 crore by existing shareholders. The fresh capital raised will be used for working capital requirements, business expansion, and general corporate purposes, helping the company strengthen its operational base. The face value of each share is Rs. 1, and the price band has been fixed at Rs. 563- Rs. 593 per share.

Ahead of the issue opening, the company raised Rs. 268.50 crore from anchor investors on November 20th, which included participation from domestic mutual funds and institutional players.

Should You Take a Chance on the Sudeep Pharma IPO?

Swastika Investmart, in its IPO review, has given a "Subscribe" rating to the Sudeep Pharma IPO with a cautiously optimistic outlook. The brokerage said, "The company delivers robust performance with rising revenues, high EBITDA margins, and an impressive FY25 RONW of 27.88%. It operates as a preferred partner for critical pharma-grade ingredients, serving a solid roster of marquee global customers. The issue is considered "aggressively priced" at a P/E of 45-48x, fully capturing its current stable profitability. This steep valuation leaves very little room for immediate listing gains or short-term "pops. Aggressive investors are advised to apply only if they have a holding horizon of 2-5 years."

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