Sudeep Pharma IPO Sees Rising GMP as Subscription Picks Up Momentum

Sudeep Pharma’s IPO continued to gain traction on its second subscription day, with the grey market premium (GMP) rising 5% since launch. The issue, which opened on November 21, was fully subscribed on Day 1 as investors bid for 1.50 crore shares against 1.05 crore on offer, reflecting 1.42 times subscription. As of early November 24, the GMP stood at ₹121, implying an estimated listing price of ₹714 versus the upper issue price of ₹593. This hints at a potential 20.40% listing gain.