Emcure Pharmaceuticals’ IPO subscription closes today on July 5, 2024. On the second day of bidding on July 4, 2024, the Emcure Pharmaceuticals IPO was well-received by investors, with a robust overall market response. There was significant interest from individual investors, non-institutional investors, and eligible institutional purchasers.
On the third day of bidding, at the time of writing on July 5, 2024 at 12:12 pm, Emcure Pharmaceuticals IPO is witnessing a overall subscription of 8.83 times.
Qualified Institutional Buyers (QIBs) received a subscription rate of 1.26 time. Non-institutional investors received a subscription rate of 27.46 times. The retail investor category had a subscription rate of 5.03 times. The employee component had 6.56 bookings.
On the first day of bidding, Wednesday, July 3, the IPO subscription status was 1.32 times, according to BSE data.
Emcure Pharmaceuticals is a Pune-based company involved in the research, development, manufacturing, and sale of pharmaceutical products globally across various therapeutic areas.
The IPO price range is set between ₹960 and ₹1,008 per share, and the offering will conclude on July 5. The IPO consists of a fresh offering of ₹800 Crore.
Additionally, existing promoters and shareholders are selling shares worth ₹1,151 Crore. The total issue size at the top of the price band is ₹1,952 Crore.
Promoters involved in the offer for sale (OFS) include Satish Ramanlal Mehta, Sunil Rajanikant Mehta, Namita Vikas Thapar, and Samit Satish Mehta.
Other selling shareholders in the OFS include Pushpa Rajnikant Mehta, Bhavana Satish Mehta, Kamini Sunil Mehta, Arunkumar Purshotamlal Khanna, Berjis Minoo Desai, Sonali Sanjay Mehta, and BC Investments IV.
The book-running lead managers for the IPO are Axis Capital Limited, J.P. Morgan India Private Limited, Jefferies India Private Limited, and Kotak Mahindra Capital Company Limited. Link Intime India Private Ltd. is the registrar for the offering.
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