Emcure Pharma IPO To Open On July 3: All You Need To Know

Emcure Pharma IPO: The initial public offering of Emcure Pharmaceuticals Ltd, which is backed by Bain Capital, will be opened for public subscription on July 3. The price band of the Rs 1,952-crore IPO, which will conclude on July 5, has been fixed at Rs 960-Rs 1,008 per share.

Emcure Pharma IPO Allotment and Listing Dates

The IPO allotment will take place on July 8, while its shares will likely be listed on BSE and NSE on July 10. The bidding for anchor investors will open for a day on July 2.

Emcure Pharma IPO Price & Lot Size

The price band of the Emcure Pharma IPO has been fixed at Rs 960 to Rs 1,008 per share.

Investors need to apply for a minimum of 14 equity shares and in multiples thereof. Hence, the minimum investment by retail investors would be Rs 14,112 (14 (lot size) x Rs 1,008 (upper price band)).

Emcure Pharma IPO GMP Today

According to market observers, unlisted shares of Emcure Pharma Ltd are trading Rs 264 higher in the grey market as compared with its issue price. The Rs 264 grey market premium or GMP means the grey market is expecting a 26.19 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Emcure Pharma IPO More Details

The IPO comprises fresh issuance of equity shares worth Rs 800 crore and an Offer For Sale (OFS) of 1.14 crore equity shares to the tune of Rs 1,152 crore, at the upper end of the price band, by promoters and existing shareholders. This aggregates the total public size to Rs 1,952 crore.

Those selling shares in the OFS include promoter Satish Mehta and investor BC Investments IV Ltd, an affiliate of US-based private equity major Bain Capital.

Currently, Satish Mehta holds a 41.85 per cent stake in the company and BC Investments owns a 13.07 per cent stake.

Proceeds of the fresh issue will be used towards payment of debt and for general corporate purposes.

Brokerage houses have pegged the company’s market capitalisation to over Rs 19,000 crore post-issue.

The Pune-based firm Emcure Pharmaceuticals is engaged in developing, manufacturing, and globally marketing a broad range of pharmaceutical products across several major therapeutic areas.

Employee portion has been reserved up to 108,900 equity shares in the IPO.

Besides, half of the issue size has been reserved for qualified institutional investors (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.

Further, investors can bid for a minimum of 14 shares and in multiples of 14 shares thereafter.

Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JP Morgan India are the book-running lead managers to the issue. The equity shares of the company are expected to list on the BSE and NSE on July 10.

Earlier this month, the company received Sebi’s go-ahead to float initial share sale.

Emcure Pharmaceuticals Ltd’s revenue increased 11.33 per cent and profit after tax (PAT) fell 6.1 per cent between the financial year ending with March 31, 2024 and March 31, 2023.