Sudeep Pharma IPO

About the company

Sudeep Pharma Limited is a technology-driven manufacturer of pharmaceutical excipients and speciality ingredients serving the global pharmaceutical, food, and nutrition industries. Established in 1989, the company has evolved from the production of excipients into a diversified ingredients player with over 100 products as of June 30, 2025. The company is recognised as one of the largest producers of food-grade iron phosphate for infant nutrition, clinical nutrition, and the food and beverage sectors, in terms of production capacity and is a key exporter of mineral ingredients for pharmaceutical, food, and nutrition applications. In 2024, it stood among India’s largest exporters in this category, with a clientele spanning about 100 countries. The company operates under two verticals: Pharmaceutical, food, and nutrition ingredients, which include mineral salts like calcium, zinc, iron, potassium, magnesium, sodium, and copper and Speciality ingredients, which are produced by its subsidiary SNPL and include liposomal ingredients, granulated or spray-dried formats, encapsulated actives, and micronutrient premixes. Segment-wise, the pharmaceutical, food and nutrition segment contributed 66.43% of revenue, while speciality ingredients accounted for 33.57% and intersegment revenue stood at 7.96% as of June 2025. Sudeep Pharma has served over 1,100 clients worldwide, including 14 Fortune 500 multinational corporations as of June 30, 2025. 83.17% of revenue came from repeat customers, highlighting customer stickiness. Additionally, it has partnerships with major pharmaceutical and nutrition companies, such as Pfizer, Intas, Mankind, Merck Group, Aurobindo, Cadila, Danone, and others. In order to expand its market reach, the company and its partners run a network of 15 warehouses in the US, Europe, Latin America, Africa, and Asia as of June 2025, along with established regional sales offices. The company has four manufacturing facilities and twelve production lines, including three units in Gujarat with a combined annual manufacturing capacity of 65,579 MT that produce food-grade and pharmaceutical minerals, speciality ingredients. The company has another plant in Ireland, which was acquired through the NSS acquisition. Together, these facilities offer a combined annual production capacity of 72,246 MT. These facilities hold 35 global accreditations, including USFDA, EXCiPACT, WHO-GMP, FSSC and more, enhancing its competitive advantage in regulated markets. Notably, one of its facilities holds USFDA approval for mineral-based ingredients, making it one of the few companies in the world to have this certification. The company is also the only manufacturer in India, and one of nine globally, holding a Council of Europe CEP certification and written confirmation for the sale of calcium carbonate as an API in the EU. With two R&D centres, 41 specialists, and more than 420 projects completed over the last three years up to Q1FY26, its R&D strength further boosts competitiveness. As a result of such initiatives, the company was able to successfully commercialise 127 products. Key innovations include Lipoboost, offering 3–5x higher nutrient absorption, and Novelcap. The global demand for nutritional ingredients is expected to grow at a CAGR of 6.8% between 2024 and 2029, and that for Vitamins and Minerals is expected to grow at a CAGR of 7% between 2024 and 2029. The company’s key export markets- North America, Europe, and Asia-Pacific- are projected to grow steadily at 5.6%, 4.6% and 9.0% CAGR, respectively by 2029, aligning closely with the company’s revenue mix where North America contributed 15.92%, Europe 17.46% and Asia-Pacific 13.87% as of June 2025. With 58.68% of total revenue coming from exports, the company is well-positioned to benefit from rising nutritional ingredient demand across its fastest-growing global destinations. The company is in the process of setting up a manufacturing facility to produce precursor cathode active materials (“pCAM”), beginning with battery-grade iron phosphate for lithium iron phosphate batteries. Additionally, it is concentrated on increasing manufacturing capabilities, creating tailored solutions, and broadening its market reach. Now, Sudeep Pharma Ltd is launching its initial public offering (IPO), which consists of a fresh issue of ₹95 crore and an offer for sale of ₹800 crore. The total issue size of the IPO is ₹895 crore. Its shares will be listed on the NSE and BSE. ## **How to pre-apply for the Sudeep Pharma IPO?** You can pre-apply for the Sudeep Pharma IPO on Upstox. The pre-application for this IPO, which means pre-apply open date, usually begins a day before the IPO opens for subscription. Follow these steps to pre-apply for the IPO: 1. Login to your Upstox account, using your six-digit PIN 2. After successfully logging in, click on ‘Discover’ 3. On the Discover tab, you will find the ‘Invest in IPO’ section 4. Under the Invest in IPO section, look for the ‘Sudeep Pharma IPO’ tab and click on it 5. Now fill in all the required information, like ‘bid price’ and ‘lot size’ 6. Confirm and click on ‘Pre-Apply’ 7. Accept the mandate on your UPI app ## **How to apply for the Sudeep Pharma IPO?** If you are interested in this investment opportunity but unsure how to apply for the Sudeep Pharma IPO, here are the steps that you need to follow. When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the Sudeep Pharma IPO on Upstox: 1. Log in to your Upstox account, using your six-digit PIN 2. After logging in, click on ‘Discover’ 3. On the ‘Discover’ tab, you will find the ‘Invest in IPO’ section 4. Under the Invest in IPO section, look for the ‘Sudeep Pharma IPO’ tab and click on it 5. Now fill in all the required information, like ‘bid price’ and ‘lot size’ 6. Confirm and click on ‘Apply’ 7. Accept the mandate on your UPI app ## **How to check Sudeep Pharma IPO Allotment Status?** When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally completed on the next working day after an IPO closes. Here’s a step-by-step guide on how to check the Sudeep Pharma IPO allotment status: 1. Login to your Upstox account, using your six-digit PIN 2. After logging in, click on ‘Discover’ 3. On the ‘Discover’ page, you will find the ‘Invest in IPO’ section 4. Under the Invest in IPO section, you will find the ‘View all’ option 5. Once you click on ‘View all’, you will be directed to the ‘IPO’ tab 6. In the ‘IPO’ tab, click on ‘My applications’ 7. In ‘My applications’, under the History section, your Azad Engineering IPO allotment status will be mentioned

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   21 Nov 2025

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   25 Nov 2025

   Last day to place your bid

3. Basis of Allotment

   Completed
   26 Nov 2025

   Share allotment finalised

4. Refund Initiation

   Completed
   27 Nov 2025

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   27 Nov 2025

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   28 Nov 2025

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.