📷 Image Credits: Benzinga India
Emcure Pharmaceuticals has recently launched its IPO valued at ₹1,952.03 crores, with a fresh issue of 0.79 crore shares and an offer for sale of 1.14 crore shares. The IPO opened for subscription on July 3, 2024, and will close on July 5, 2024. As of 1:02 pm on July 3, the subscription status stands at 0.63 times, with the retail investor portion subscribed 0.80 times, non-institutional investors (NII) at 1.01 times, and Qualified Institutional Buyers (QIBs) at 0.00 times.
The Emcure IPO GMP is currently at ₹299, indicating a potential premium on listing. With a price band of ₹960 to ₹1,008 per share, the company plans to utilize the net proceeds for various purposes such as prepayment of borrowings, working capital needs, and general corporate objectives. The tentative listing date for Emcure shares on the BSE and NSE is set for July 10, 2024.
Before the IPO launch, Emcure secured ₹582.6 crores from anchor investors by allocating 57.79 lakh equity shares at ₹1,008 per share to notable investors like Abu Dhabi Investment Authority, Goldman Sachs, and Morgan Stanley. Established in 1981, Emcure Pharmaceuticals is a leading player in the pharmaceutical industry, ranked 13th in domestic sales and 4th in market share in its covered markets.
The IPO subscription status indicates a positive response from investors, with different categories showing varying levels of oversubscription. The pricing, GMP, and allocation to anchor investors provide insights into market sentiment towards Emcure’s IPO. Investors are advised to conduct thorough research and consult experts before making any investment decisions in the wake of this significant IPO in the Indian market.
