Sudeep Pharma Gears Up for Major IPO Launch

Vadodara-based Sudeep Pharma plans to raise funds via an IPO, offering fresh equity and promoter stake sale. They aim to use the funds for machinery procurement. With operations in pharma, food, and nutrition sectors, the company has strong ties with industry giants like Pfizer and Danone.

Vadodara's Sudeep Pharma is taking a significant step towards business growth as it files preliminary papers for an initial public offering (IPO) with the market regulator Sebi. The company plans a blend of fresh equity share issuance worth Rs 95 crore and a promoter-led offer for sale totaling up to 1,00,76,492 shares.

With the IPO, entrepreneur Sujit Jaysukh Bhayani and others from the Bhayani family are set to reduce their shareholding. A pre-IPO placement strategy that could raise Rs 19 crore is also on the horizon, potentially impacting the fresh issue size.

Sudeep Pharma's IPO is a strategy to fund capital expenditures, specifically Rs 75.81 crore will be used for machinery at its Gujarat-based Nandesari facility, supporting their growing footprint in pharmaceutical, food, and nutrition verticals. The company operates three facilities in Vadodara and maintains partnerships with major corporations such as Pfizer, Intas Pharmaceuticals, and Danone.

(With inputs from agencies.)