Emcure Pharmaceuticals IPO Receives 4.98x Subscription on Day 2

Today, on the second day of the bidding process, Emcure Pharmaceuticals Limited IPO was subscribed 4.98 times. The retail portion was subscribed to 3.50x, 0.97x in Qualified Institutional Buyers (QIB), 13.95x in Non-Institutional Investors (NII), and 4.84x in the employees category.

On the first day, the IPO saw an overall subscription of 1.34 times. The retail portion was oversubscribed at 1.46 times, while QIB subscribed at 0.07 times, NII at 2.78 times, and employees at 2.34 times.

The IPO of Emcure Pharmaceuticals Ltd opened on July 3, 2024, and will continue until July 5, 2024. Allotment results are expected on July 8, 2024, with a tentative listing date on both the BSE and NSE set for July 10, 2024.

Unlisted shares of Emcure Pharmaceuticals Ltd were trading at ₹345 in the grey market on July 4, 2024.

Emcure Pharmaceuticals Ltd has set its IPO price range at ₹960 to ₹1,008 per share, with a minimum lot size of 14 shares requiring a minimum investment of ₹14,112 for retail investors. The IPO comprises both a fresh issue and an Offer For Sale (OFS), totalling 19,365,346 shares and aiming to raise up to ₹1,952.03 crore.

The primary objective of the IPO is to repay and/or prepay certain outstanding borrowings and for general corporate purposes.

On July 2, 2024, the company’s IPO committee and the book-running lead managers finalised the allocation of 57,79,850 equity shares to Anchor Investors at an Anchor Investor allocation price of ₹1,008 per equity share.

About Emcure Pharmaceuticals Ltd

Emcure Pharmaceuticals Ltd, an Indian pharmaceutical company, specialises in researching, developing, manufacturing, and marketing a diverse range of pharmaceutical products globally. Their portfolio includes orals, injectables, and biotherapeutics, serving markets across 70+ countries, with significant operations in India, Europe, and Canada.

As of March 2024, the company’s revenue from operations was ₹66,582.51 million, up by 11.22% compared to ₹59,858.11 million in FY 2023. In FY 2024, the profit was ₹5,275.75 million, down by 6.06% compared to ₹5,618.45 million in FY 2023.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.