Pharma/API - Listed on 28 November 2025
Sudeep Pharma (Pharma/API) closed its IPO window in 2025 and listed on NSE and BSE on 28 November 2025 at an upper band issue price of Rs 593, opening at Rs 730 for a listing gain of +23.1% and closing day one at Rs 774.15 (+30.5% on closing basis). The IPO was subscribed 93.71x overall - QIB 213.08x, HNI/NII 116.72x, Retail 15.65x. The total issue size was Rs 895 Cr (Fresh Issue Rs 95 Cr, OFS Rs 800 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Pharma/API
Sudeep Pharma operates in the Pharma/API space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The Sudeep Pharma issue was offered at an upper price of Rs 593 and raised approximately Rs 895 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 90 | +15.18% |
| Day 2 | Rs 130 | +21.92% |
| Day 3 | Rs 110 | +18.55% |
| Day 4 | Rs 110 | +18.55% |
| Day 5 | Rs 85 | +14.33% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the Sudeep Pharma IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Sudeep Pharma IPO listed at +23.1% versus the upper issue price of Rs 593 on 28 November 2025.
Sudeep Pharma IPO was subscribed 93.71x overall. QIB portion was subscribed 213.08x, HNI / NII 116.72x and Retail 15.65x.
IPO GMP started at Rs 90 on Day 1 and moved to Rs 85 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.