Sudeep Pharma IPO Subscribed 93.71 Times

New Delhi, Nov 25 (PTI) The initial public offer of Sudeep Pharma Ltd received 93.71 times subscription on the final day of share sale on Tuesday.

The Rs 895-crore IPO got bids for 99,00,87,025 shares against 1,05,64,926 shares on offer, according to NSE data.

Among investors category, Qualified Institutional Buyers (QIBs) fetched a whopping 213.08 times subscription while the quota for non-institutional investors got subscribed 116.72 times. Retail Individual Investors (RIIs) portion received 15.65 times subscription.

Sudeep Pharma on Thursday said it has mobilised Rs 268.5 crore from anchor investors.

The price band for the offering has been fixed at Rs 563-593 per equity share.

The initial public offering (IPO) is a combination of fresh issue of equity shares worth Rs 95 crore and an offer-for-sale of nearly 1.35 crore equity shares, aggregating to Rs 800 crore, by the promoters.

Proceeds from the fresh issue to the tune of Rs 75.81 crore will be used for capital expenditure toward the procurement of machinery for its production line located at the Nandesari Facility 1, Gujarat, and for general corporate purposes.

Sudeep Pharma is a technology-led manufacturer of excipients and speciality ingredients for the pharmaceutical, food, and nutrition industries, dedicated to contributing to the global healthcare ecosystem.