Sudeep Pharma IPO
Sudeep Pharma Limited (SUDEEPPHRM) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 28 November 2025.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +45.5% (likely range +29% to +92%), day's high +50.0%, chance of a gain 97%. Actual: +23.1% at the open, +34.1% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 30,18,550 | 64,31,88,450 | 213x | |
| NII (HNI) total | 22,63,913 | 26,42,40,450 | 117x | |
| Big NII (above ₹10 lakh) | 15,09,276 | 20,36,19,700 | 135x | |
| Small NII (₹2-10 lakh) | 7,54,637 | 6,06,20,750 | 80.3x | |
| Retail | 52,82,463 | 8,26,71,250 | 15.7x | |
| Total | 1,05,64,926 | 99,01,00,150 | 93.7x |
Bids on NSE and BSE together, as published by NSE, as of 25 Nov 2025, 07:00 PM. Shares offered exclude the anchor portion. 7% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Sudeep Pharma's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Interarch Building ProductsAug 2024 | 205x | 128x | 19.1x | 93.5x | ₹595 Cr | +44.3% | +46.1% |
| Stanley LifestylesJun 2024 | 222x | 120x | 19.2x | 97.0x | ₹534 Cr | +34.1% | +38.0% |
| GK EnergySep 2025 | 186x | 123x | 20.8x | 89.6x | ₹484 Cr | +11.8% | +14.2% |
| Netweb Technologies IndiaJul 2023 | 229x | 81.8x | 19.2x | 90.4x | ₹625 Cr | +89.4% | +90.4% |
| TruAlt BioenergySep 2025 | 159x | 98.6x | 11.0x | 71.9x | ₹874 Cr | +10.0% | +10.7% |
| Azad EngineeringDec 2023 | 180x | 87.6x | 23.8x | 80.7x | ₹751 Cr | +37.4% | +38.7% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| ICICI Securities | 109 | +21.3% | 69% |
| IIFL Capital Services | 94 | +19.3% | 71% |
Offer documents (NSE)
Frequently asked
What is the Sudeep Pharma IPO price band and lot size? ₹563–593 per share, with a lot of 25 shares, so the smallest retail bid is ₹14,825.
How many times has it been subscribed? 93.7x overall: QIB 213x, NII 117x, retail 15.7x.
How did it list? It opened at ₹730, +23.1% against the issue price of ₹593, and closed its first day +30.6%.
