Emcure Pharma IPO Soars: Oversubscribed 66 Times on Day 3

5 Jul 2024 , 04:06 PM

Emcure Pharmaceuticals’ initial public offering (IPO) has been booked 66.84 times on the third day of bidding as of 3:52 pm. The issue concludes today.

The categories earmarked for NII and QIB investors received the most subscriptions, at 47.98 and 193.06 times, respectively. Meanwhile, the retail sector fell behind, accounting for 6.83 times the subscription rate.

Before the issue opened, the business received ₹582 crore from anchor investors. Marquee investors in the anchor round included HDFC MF, ICICI Pru MF, SBI MF, Abu Dhabi Investment Authority, Goldman Sachs Asset Management, Nomura, and HDFC Life, among others.

The IPO consists of a new issuance of equity shares worth ₹800 crore and an offer for sale of 1.14 crore equity shares by promoters and current shareholders. Namita Thapar, of Shark Tank fame, will make roughly ₹127 crore from the stake sale under the OFS.

Emcure Pharmaceuticals is involved in the development, production, and global marketing of a wide range of pharmaceutical products in several important therapeutic areas.

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