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United News of India
4 hours ago
- Business
- United News of India
Gujarat-based Sudeep Pharma Limited files DRHP for IPO
Hyderabad, June 25 (UNI) Gujarat-based Sudeep Pharma, a technology-led manufacturer of excipients and specialty ingredients for the pharmaceutical, food and nutrition industries, has filed its draft red herring prospectus (DRHP) with capital market regulator Securities and Exchange Board of India (SEBI) to mop up funds through an initial public offering (IPO). The IPO, with a face value of Rs 1 each, combines fresh issuance of Rs 95 crore with an offer for sale of up to 1,00,76,492 equity shares by the Promoter Selling Shareholder. The offer for sale consists of up to 35,67,670 equity shares by Sujit Jaysukh Bhayani, up to 50,04,622 equity shares by Sujeet Jaysukh Bhayani HUF, up to 7,50,000 equity shares by Shanil Sujit Bhayani, and up to 7,54,200 equity shares by Avani Sujit Bhayani. The company, in consultation with the book-running lead managers, may consider an issue of specified securities, aggregating to Rs 19 crores as pre-IPO placement shall not exceed 20 per cent of the size of the fresh issue. If such placement is completed, the fresh issue size will be reduced. The offer is being made through the book-building process, wherein not more than 50 per cent of the offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15 percent of the offer shall be available for allocation to non-institutional bidders, and not less than 35 percent of the offer shall be available for allocation to retail individual bidders. The proceeds from its fresh issuance to the extent of Rs 75.81 crore for capital expenditure towards procurement of machinery for its production line located at Nandesari Facility I; and general corporate purposes. The company has expanded its operations from production of excipients to a wide variety of over 100 products in the pharmaceutical, food and nutrition industries, as of December 31, 2024. Its business is primarily structured into two verticals, Pharmaceutical, food and nutrition and Specialty ingredients. The company operates three Manufacturing Facilities in Vadodara, Gujarat, with a combined annual manufacturing capacity of 65,579 MT. For the nine-month period ended December 31, 2024, revenue from operations and profit after tax stood at Rs 344.45 crore and Rs 94.54 crore respectively. UNI KNR RN
Time of India
9 hours ago
- Business
- Time of India
Sudeep Pharma files draft papers with Sebi to mop up funds via IPO
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Vadodara-based Sudeep Pharma has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering ( IPO ).The IPO is a combination of fresh issuance of equity shares worth Rs 95 crore with an offer for sale of up to 1,00,76,492 shares by the promoter selling shareholders, as per the draft red herring prospectus (DRHP) filed on part of the OFS, Sujit Jaysukh Bhayani, Sujeet Jaysukh Bhayani HUF, Shanil Sujit Bhayani and Avani Sujit Bhayani will be offloading their stakes in the company plans a pre-IPO placement of shares aggregating to Rs 19 crore. If the pre-IPO placement is completed, the fresh issue size will be proceeds from its fresh issuance to the extent of Rs 75.81 crore for capital expenditure towards procurement of machinery for its production line located at Nandesari facility, Gujarat, and general corporate its inception in 1989, Sudeep Pharma have expanded its operations from production of excipients (colouring agents and preservatives) to a wide variety of over 100 products in the pharma, food and nutrition industries, as of December 31, company's business is primarily structured into two verticals: pharmaceutical, food and nutrition and specialty ingredients. It operates three manufacturing facilities in Vadodara with a combined annual manufacturing capacity of 65,579 metric of December 31, 2024, the company have built longstanding relationships with marquee customers, including Pfizer, Intas Pharmaceuticals, Mankind Pharma, Merck Group, Cadila Pharmaceutical, Micro Labs, and French multinational the fiscal ended December 31, 2024, the company's revenue from operations and profit after tax stood at Rs 344.45 crore and Rs 94.54 crore, shares of the company are proposed to be listed on the BSE and the Securities and IIFL Capital Services are the book-running lead managers, and MUFG Intime India is the registrar to the IPO.
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Business Standard
9 hours ago
- Business
- Business Standard
Sudeep Pharma files DRHP with Sebi for IPO, plans major capex expansion
Upcoming IPO: Sudeep Pharma, a manufacturer of excipients and speciality ingredients for the pharmaceutical, food and nutrition industries, has filed its Draft Red Herring Prospectus (DRHP) with the markets regulator, the Securities and Exchange Board of India (SEBI) for its maiden public issue. The Gujarat-based tech company's IPO, with a face value of ₹1 per equity share consists of a fresh issue of equity shares aggregating to ₹95 crore, and an offer for sale (OFS) of 10.07 million equity shares by existing shareholders. Sudeep Pharma IPO details The OFS comprises up to 3.56 million equity shares by Sujit Jaysukh Bhayani, up to 5 million equity shares by Sujeet Jaysukh Bhayani HUF, up to 7,50,000 million equity shares by Shanil Sujit Bhayani, and up to 7,54,200 equity shares by Avani Sujit Bhayani. According to the DRHP, the offer is being made through the book-building process. The company has reserved not more than 50 per cent of the offer for qualified institutional buyers (QIBs), not less than 15 per cent for non-institutional bidders, and not less than 35 per cent for retail individual bidders. From the net issue proceeds the company intends to use ₹75.81 crore for capital expenditure towards procurement of machinery for its production line located at Nandesari Facility I, as well as, general corporate purposes, as per the DRHP. MUFG Intime India, formerly Link Intime, is the registrar for the issue. ICICI Securities and IIFL Capital Services are the book-running lead managers. About Sudeep Pharma Incorporated in 1989, Sudeep Pharma manufactures excipients and speciality ingredients for the pharmaceutical, food and nutrition industries. The company has a presence in both, domestic and international markets, including the United States, South America, Europe, the Middle East, Africa and Asia-Pacific. It is one of the largest producers of food-grade iron phosphate for infant nutrition, clinical nutrition, and the food and beverage sectors, in terms of production capacity with a combined annual manufacturing capacity of 65,579 metric tons, as of December 31, 2024, according to a F&S report mentioned in the DRHP.
Mint
9 hours ago
- Business
- Mint
IPO Watch: Sudeep Pharma files draft papers with SEBI to raise funds via IPO
IPO Watch: Sudeep Pharma Limited has filed its draft red herring prospectus (DRHP) with the capital market regulator, Securities and Exchange Board of India (SEBI), for an initial public offering (IPO). Sudeep Pharma, since it was established in 1989, has broadened its operations from manufacturing excipients to offering a diverse range of over 100 products within the pharmaceutical, food, and nutrition sectors, as of December 31, 2024. The company's business is organised into two main segments: Pharmaceutical, food and nutrition, and Specialty ingredients. The company has three manufacturing facilities located in Vadodara, Gujarat, which together boast an annual production capacity of 65,579 MT. It employs a workforce of 37 individuals for various processes including encapsulation, spray drying, granulation, trituration, liposomal preparations, and blending. As of December 31, 2024, the company has catered to more than 1,100 customers and has established long-term partnerships with notable clients such as Pfizer Inc, Intas Pharmaceuticals Limited, Mankind Pharma Limited, Merck Group, Alembic Pharmaceutical Limited, Aurobindo Pharma Limited, Cadila Pharmaceutical Limited, IMCD Asia Pte. Ltd., Micro Labs Limited, and Danone S.A. For the nine-month period concluding on December 31, 2024, the revenue from operations and profit after tax were ₹ 344.45 crore and ₹ 94.54 crore, respectively. The initial public offering (IPO), with a nominal value of Re 1 per share, includes a fresh issuance of ₹ 95 crore alongside an offer for sale of up to 1,00,76,492 equity shares from the Promoter Selling Shareholder. The offer for sale comprises up to 35,67,670 equity shares from Sujit Jaysukh Bhayani, up to 5004622 equity shares from Sujeet Jaysukh Bhayani HUF, up to 7,50,000 equity shares from Shanil Sujit Bhayani, and up to 7,54,200 equity shares from Avani Sujit Bhayani. After discussions with the book-running lead managers, the company may opt for an issue of specified securities totaling ₹ 19 crore as a pre-IPO placement, which shall not exceed 20% of the fresh issue size. If such a placement occurs, the size of the fresh issue will be reduced. The offer will be conducted via a book-building process, where no more than 50% of the offer will be allocated proportionately to qualified institutional buyers, at least 15% will be reserved for non-institutional bidders, and a minimum of 35% will be set aside for retail individual bidders. The funds generated from the fresh issuance, amounting to ₹ 75.81 crore, will be used for capital expenses to acquire machinery for its production line at the Nandesari Facility I, as well as for general corporate needs. ICICI Securities Limited and IIFL Capital Services Limited serve as the book-running lead managers, while MUFG Intime India Private Limited is designated as the registrar of the offer. The equity shares will be listed on both the BSE and NSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
