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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Capital expenditure for machinery procurement
Funding the purchase of machinery at the company's Nandesari facility to expand manufacturing capacity.
General corporate purposes
Funding general corporate purposes.
(₹ in Crore)
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Sudeep Pharma Limited manufactures excipients and specialty mineral ingredients for the pharmaceutical, food and nutraceutical industries, with a focus on essential mineral compounds such as calcium, iron, magnesium, zinc, potassium and sodium derivatives used in drug formulation and food fortification applications. Incorporated in 1989 and headquartered in Vadodara, Gujarat, the company operates multiple manufacturing facilities in the region that hold globally recognised certifications including USFDA, WHO-GMP and ISO, and had around 700 permanent employees as of December 2024. Its products reach customers in more than 100 countries, and it counts several large global pharmaceutical and food companies among its long-standing clients, with international markets contributing the majority of its revenue. The company has built preferred-supplier relationships with several key customers for critical, specialised ingredients, and management has pointed to consistent growth in both revenue and profitability in recent years. According to its offer document, the company does not have directly comparable listed peers in the Indian market.
The anchor investor round, held a day ahead of the public issue opening, raised about Rs 268.50 crore at the upper price band of Rs 593 per share.
Source: RHP • Analysis provided for informational purposes
Last Updated: 9 July 2026, 5:30 AM
Preferred-partner status with key customers
The company has established itself as a preferred supplier of critical, specialised ingredients to several marquee global pharmaceutical and food companies.
Strong R&D and product development
Ongoing investment in research and development has supported a broad and growing product portfolio across pharma, food and nutrition applications.
Experienced leadership
The company is led by a management team with deep experience in the specialty ingredients industry.
Compliant, scalable manufacturing base
Facilities in Gujarat carry globally recognised quality certifications and have room to scale capacity to meet growing demand.
High entry-barrier market position
Long-standing customer relationships and regulatory certifications create meaningful barriers for new entrants in this niche ingredients segment.
Customer concentration
The top 10 customers account for more than a third of revenue, so the loss of a major customer could materially affect results.
Segment concentration
A majority of revenue comes from a single product or business segment, limiting diversification.
Quality and compliance risk
Any quality lapse or failed regulatory audit at its facilities could lead to lost orders and reputational damage, given the pharma-grade nature of its products.
Sudeep Pharma Limited
601-602, Sears 2, East Wing, Gotri-Sevasi Road, Sevasi, Vadodara, Gujarat, India - 391101
View on Maps →MUFG Intime India Private Limited
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Geographic concentration
Manufacturing is concentrated in Gujarat, exposing operations to regional disruptions such as natural events or local regulatory action.
New product execution risk
Delays in launching new products could slow growth and affect profitability.
Acquisition integration risk
Future acquisitions that fail to integrate smoothly could strain resources without delivering the expected benefits.
Regulatory approval risk
Delays in government or regulatory approvals could disrupt planned operations or expansion.