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Sudeep Pharma IPO Surges Past 2X Subscriptions
24 Nov
Summary
- Sudeep Pharma IPO subscribed over two times by second day.
- Issue includes fresh shares worth Rs 95 crore and an OFS.
- Share allotment expected by November 26, listing on November 28.
Sudeep Pharma Ltd.'s initial public offer experienced robust demand, surpassing a 2x subscription rate by the conclusion of its second day. Strong interest from non-institutional and retail investors has driven this early success. The offering strategically combines a fresh issuance of shares totaling Rs 95 crore with an offer for sale by existing stakeholders.
The IPO's price band is set between Rs 563 to Rs 593 per share, presenting an investment opportunity for a broad range of investors. Key promoter selling shareholders, including Sujit Jaysukh Bhayani and others, are offloading portions of their stakes through the offer for sale segment.
With ICICI Securities and IIFL Capital Services acting as book-running lead managers, the process is well-supported. Tentative share allotment is scheduled for November 26, with shares expected to be credited to demat accounts on November 27. Sudeep Pharma is slated to make its public debut on the BSE and NSE on November 28.
