Sudeep Pharma Limited is a leading Indian manufacturer of pharmaceutical excipients, food-grade minerals, and specialty nutrition ingredients. Its high-purity mineral salts are used across pharma formulations, infant nutrition, fortified foods, dairy, beverages, bakery, and dietary supplements.
The company exports to major global markets including North America, Europe, the UK, Brazil, and Asia-Pacific, serving customers across regulated and semi-regulated industries.
As of June 30, 2025, Sudeep Pharma operates four manufacturing facilities:
- Nandesari I & II (Gujarat) – Calcium, phosphates, oxides, carbonates, sulphates.
- Poicha (Gujarat) – Novelcap, Sorbic Acid, PressCal, Cuvamix, Lipoboost.
- Ireland Facility (NSS) – Specialty mineral ingredients.
The company’s manufacturing footprint spans 45,784 sq. meters with a total installed capacity of 65,579 MT per annum.
All facilities follow global certifications, including USFDA, CEP, EXCiPACT, WHO-GMP, FSSC 22000, ISO 9001:2015, Halal, and Kosher, ensuring consistent international-grade quality.
Product Portfolio:
- Pharmaceutical, Food & Nutrition Ingredients: Mineral-based excipients used in tablets, capsules, fortified foods, dietary supplements, premixes, and functional nutrition products.
- Specialty Ingredients: Application-specific ingredients made using advanced technologies to enhance stability, solubility, and performance in pharma and nutrition.
- Triturates / Granulated Ingredients: Ready-to-use granulated and pre-blended mineral ingredients that improve flowability, uniformity, and formulation efficiency for solid-dose and nutrition applications.
In-house labs, pilot-scale development facilities, and strong expertise in mineral salts, excipients, and specialty ingredient formulations drive the company’s innovation.
As of December 31, 2024, the company had 704 permanent employees.
Sudeep Pharma IPO – Details
| IPO Opening Date | 21 November 2025 |
| IPO Closing Date | 25 November 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 1,50,92,750 Shares Worth ₹895 Crore Fresh Issue: 16,02,024 Shares Worth ₹95 Crore Offer For Sale: 1,34,90,726 Shares Worth ₹800 Crore |
| Face Value | ₹1 per equity share |
| IPO Price | ₹563 – ₹593 per share |
| Market Lot | 25 Shares |
| Min Order | 25 Shares [ 1 Lot ] |
| Listing At | BSE, NSE |
| Register | MUFG Intime India Pvt.Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Sudeep Pharma IPO – Date Schedule
| IPO Open Date | 21 November 2025 |
| IPO Close Date | 25 November 2025 |
| Basis of Allotment | 26 November 2025 |
| Initiation of Refund | 27 November 2025 |
| Credit of Shares to Demat Account | 27 November 2025 |
| IPO Listing Date | 28 November 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 25, 2025 |
Sudeep Pharma IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 25 | ₹14,825 |
| Retail (Max) | 13 | 325 | ₹1,92,725 |
| S-HNI (Min) | 14 | 350 | ₹2,07,550 |
| S-HNI (Max) | 67 | 1,675 | ₹9,93,275 |
| B-HNI (Min) | 68 | 1,700 | ₹10,08,100 |
Competitive Strength
- Market leadership with a diversified product portfolio in a high barrier industry.
- Distinguished global customer base with long-standing relationships with key customers.
- Well-equipped and regulatory compliant Manufacturing Facilities.
- Strong research and development capabilities.
Company Promoters
- Sujit Jaysukh Bhayani
- Avani Sujit Bhayani
- Shanil Sujit Bhayani
- Sujeet Jaysukh Bhayani HUF
- Riva Resources Private Limited
- Bhayani Family Trust
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2023 | ₹438.26 Cr | ₹352.28 Cr | ₹62.32 Cr | ₹82.26 Cr |
| 31 March 2024 | ₹465.38 Cr | ₹290.56 Cr | ₹133.15 Cr | ₹75.03 Cr |
| 31 March 2025 | ₹511.33 Cr | ₹328.48 Cr | ₹138.69 Cr | ₹135.25 Cr |
| 30 June 2025 | ₹130.08 Cr | ₹86.00 Cr | ₹31.27 Cr | ₹135.97 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| Debt/Equity | 0.20 |
| RoNW | 27.88% |
| PAT Margin | 27.63% |
| EBITDA Margin | 39.70% |
| Price to Book Value | 12.93 |
| Market Capitalization | ₹6,697.85 Cr. |
| Pre IPO | Post IPO | |
| EPS (₹) | 12.46 | 11.07 |
| P/E (x) | 47.61 | 53.55 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Capital expenditure towards procurement of machinery for the production line located at Nandesari Facility I. | ₹75.81 |
| General Corporate Purposes. |
✅Strengths
- Strong global certifications (USFDA, CEP, EXCiPACT, WHO-GMP, FSSC, ISO), enabling access to regulated markets.
- One of only 9 global players with CEP + WC certification for Calcium Carbonate.
- Diversified manufacturing base across Gujarat and Ireland with modern technology.
- Specialized expertise in high-purity mineral salts used across pharma, food, and nutrition.
- Export presence in North America, Europe, UK, Brazil, and Asia-Pacific.
- Advanced production technologies such as granulation, spray drying, and encapsulation.
⚠️Risks
- Dependent on regulatory approvals; non-renewal can impact operations.
- Manufacturing and office facilities on leased premises, posing renewal risks.
- High compliance requirements in global pharma and food markets.
- Exposure to changing quality and safety regulations across regions.
- Operational risks linked to raw material supply and production continuity.
Sudeep Pharma IPO Promoter Holding
| Pre Issue Share Holding | 89.37% |
| Post Issue Share Holding | 76.15% |
Sudeep Pharma IPO Prospectus
Company Contact Information
| Sudeep Pharma Ltd. 129/1/A, GIDC Estate, Nandesari, Vadodara, Gujarat, 391340 Phone: +91 265 284 0656 Email: cs.sudeep@sudeepgroup.com Website: https://www.sudeeppharma.com/ |
Sudeep Pharma IPO Registrar
| MUFG Intime India Pvt.Ltd. Phone: +91-22-4918 6270 Email: sudeeppharma.ipo@in.mpms.mufg.com Website: https://linkintime.co.in/Initial_Offer/public-issues.html |
Sudeep Pharma IPO Lead Manager(s)
| 1. ICICI Securities Limited 2. IIFL Capital Services Limited |
Sudeep Pharma IPO FAQs
| What is the Sudeep Pharma IPO? Sudeep Pharma IPO is a main-board IPO. The issue is priced at ₹563 to ₹593 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will Sudeep Pharma IPO open? The IPO is to open on 21 November 2025 for QIB, NII, and Retail Investors. |
| What is Sudeep Pharma IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is Sudeep Pharma IPO Size? Sudeep Pharma IPO size is ₹895.00 Crore. |
| What is the Sudeep Pharma IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 25 Shares with ₹14,825, while the maximum bid is 325 Shares with ₹1,92,725. |
| What is the Sudeep Pharma IPO Allotment Date? Sudeep Pharma IPO allotment date is 26 November 2025. |
| What is the Sudeep Pharma IPO Listing Date? Sudeep Pharma IPO listing date is 28 November 2025. The IPO is to be listed on BSE and NSE. |
