Sudeep Pharma's Stellar Debut: Shares Surge Over 30%

Sudeep Pharma Ltd's shares soared more than 30% on their market debut, closing at significant premiums on both BSE and NSE. The company's IPO, oversubscribed by 93.71 times, combined a fresh issue and an offer-for-sale. Proceeds will fund machinery procurement and support corporate growth.

Sudeep Pharma Ltd made an impressive market debut, with its shares closing over 30% higher than the issue price on both BSE and NSE on Friday.

The stock began trading at Rs 733.95 on the BSE and Rs 730 on the NSE, significantly above the issue price of Rs 593. Both exchanges saw the shares ultimately end close to Rs 774, showcasing a strong investor interest.

The IPO was oversubscribed by 93.71 times, raising Rs 895 crore. The proceeds are earmarked for expanding production facilities and furthering corporate objectives, highlighting the company's robust growth strategy.

(With inputs from agencies.)