Emcure Pharmaceuticals Anchor Investors Inject Rs 582 Crore: Here Are the Details

Anchor Investors Inject Rs 582 Crore

Emcure Pharmaceuticals Ltd. has successfully raised Rs 582 crore from anchor investors ahead of its much-anticipated initial public offering (IPO). The company allocated 57.79 lakh shares at Rs 1,008 each to 48 anchor investors. Among these, the ICICI Prudential Pharma Healthcare and Diagnostics Fund received the largest allocation at 5.15%. Other notable investors include the Abu Dhabi Investment Authority-Monsoon, Goldman Sachs Funds-Goldman Sachs India Equity Portfolio, and Nomura India Investment Fund Mother Fund, each securing a 4.93% stake. Additionally, the SBI Magnum Children’s Benefit Fund-Investment Plan obtained a 4.12% stake in the company.

Domestic Mutual Funds Participation

A significant portion of the anchor investment, amounting to 48.72% of the Rs 582 crore, came from sixteen domestic mutual funds through 29 different schemes. Prominent fund houses involved included SBI Mutual Fund, ICICI Prudential Mutual Fund, Mirae Asset Mutual Fund, Nippon India Mutual Fund, Kotak Mutual Fund, and HDFC Mutual Fund.

Leading Book Managers

The anchor round was managed by top financial firms including Kotak Mahindra Capital Co., Axis Capital Ltd., JPMorgan India Pvt., and Jefferies India Pvt. These managers played a crucial role in coordinating the anchor investments and setting the stage for the IPO launch.

IPO Launch Details

Emcure Pharmaceuticals IPO to raise up to Rs 1,952 crore. The IPO opened on Wednesday with a price band set at Rs 960–1,008 per share. The offering consists of a fresh issue of Rs 800 crore and an offer for sale of 1.14 crore equity shares. Investors can apply for a minimum lot size of 14 shares. The IPO will run for three days and is expected to list on the stock exchange the following Wednesday.

Subscription Status

As of July 3, 2024, at 1:05 PM, the Emcure Pharmaceuticals IPO was subscribed 0.64 times. Within different investor categories, the retail segment saw a subscription rate of 0.82 times, the Qualified Institutional Buyers (QIB) segment had no subscriptions, and the Non-Institutional Investors (NII) segment was subscribed 1.04 times.

Conclusion

Emcure Pharmaceuticals’ IPO has generated significant interest from anchor investors, particularly from major domestic mutual funds and international investment firms. The IPO’s success will be closely watched as it progresses through the subscription period and eventually lists on the exchange.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions