The allocation of shares for the Sudeep Pharma IPO is scheduled to be finalized today following a surge in demand during the final day of the public offering. The three-day subscription period, which ended on November 25, witnessed a nearly 100-fold oversubscription, indicating significant interest from various investor groups.
The overall subscription rate for the Sudeep Pharma IPO reached 93.71 times, with the retail portion oversubscribed by 15.65 times. The Qualified Institutional Buyers (QIB) category showed remarkable interest at 213.08 times, while the Non-Institutional Investor (NII) segment recorded a subscription rate of 116.72 times.
Applicants can monitor their allotment status through the BSE website or the registrar, MUFG Intime India. To check allotment status on the BSE website, individuals need to visit the BSE IPO allotment page, select ‘Equity,’ choose Sudeep Pharma Limited, enter their application number and PAN, fill in the captcha, and click on Search.
On the MUFG Intime India website, investors can select Sudeep Pharma Limited from the list of active issues, provide details such as Application Number, Demat Account Number, or PAN, complete the captcha, and click Submit to check their status.
The grey market premium (GMP) indicates a promising debut for Sudeep Pharma, with the current GMP at Rs 87. Based on the upper price band of Rs 593, the stock is anticipated to list around Rs 680, potentially yielding a gain of 14.67%. Investor sentiment remains positive due to strong subscription figures and a robust GMP, although actual listing gains will be influenced by market conditions on the debut day.
The IPO, valued at Rs 895 crore, includes a fresh issue of 0.16 crore shares amounting to Rs 95 crore and an offer for sale (OFS) of 1.35 crore shares valued at Rs 800 crore. The IPO opened on November 21 and closed on November 25, with Sudeep Pharma shares set to list on both BSE and NSE tentatively on November 28. The price range for the IPO was fixed between Rs 563 and Rs 593 per share.