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Emcure Pharmaceuticals IPO, one of the most awaited offerings in the Indian market, has witnessed a strong response from investors on its second day. The initial public offering (IPO) opened on 3rd July 2024 and will continue to accept bids until 5th July 2024. The price band for the IPO has been set between ₹960 to ₹1008 per equity share.
On the first day of bidding, the public issue was oversubscribed by 1.31 times, reflecting the interest and confidence of investors in Emcure Pharmaceuticals Ltd. As of the second day, the IPO has received 3.84 times subscription overall, with the retail portion being booked 3.06 times, the NII segment booked 10.31 times, and the QIB portion filled 0.18 times.
Market observers have noted that shares of Emcure Pharmaceuticals are trading at a premium in the grey market. The grey market premium (GMP) for Emcure Pharmaceuticals IPO stands at ₹333, indicating a strong bullish sentiment among investors. This rise in GMP can be attributed to a positive response from primary market investors and a favorable trend in the stock market.
Leading analysts and brokerage firms have given a ‘subscribe’ rating to the Emcure Pharmaceuticals IPO, citing the company’s focus on high-growth therapeutic areas, innovative product portfolio, successful global expansions, and solid research and development foundation. Recommendations from firms like Anand Rathi, Swastika, and Reliance Securities highlight the long-term growth potential of Emcure Pharmaceuticals.
The IPO allotment date for Emcure Pharmaceuticals is expected to be on 6th July 2024, with share listing anticipated on 10th July 2024 on BSE and NSE. Investors have shown keen interest in the IPO, with the company aiming to raise ₹1952.03 crore from the market.
Overall, the Emcure Pharmaceuticals IPO has garnered significant attention and support from investors, brokers, and analysts, signaling a positive outlook for the company’s future growth and market performance.