Emcure Pharmaceuticals IPO opens today

3 Jul 2024 , 12:20 PM

The initial public offering of Emcure Pharmaceuticals Ltd begins for subscriptions today July 3, 2024.  The IPO, backed by Bain Capital, has a price band set between ₹960 and ₹1,008 per share and will close on July 5.

At the time of writing on day 1 of the subscription on July 3, 2024 at 11:20 am, the IPO shows an overall subscription of 0.35 times. The NII is subscribed 0.49 times, RII is subscribed 0.47 times.

The IPO reserves up to 108,900 equity shares for the employee portion. Allocation of the issue size includes 50% for qualified institutional investors (QIBs), 35% for retail investors, and 15% for non-institutional investors. 

Emcure Pharmaceuticals Ltd secured ₹582 crore from 48 anchor investors on Tuesday, July 2. Investors can place bids for a minimum of 14 shares and in multiples of 14 shares.

Emcure Pharmaceuticals is recognized for its strong presence in both domestic and international pharmaceutical markets. The company has a robust R&D infrastructure, a wide and growing product range, and a proven history of brand establishment. Emcure Pharmaceuticals, based in Pune, is involved in the development, production, and international marketing of a broad range of pharmaceutical products across various significant therapeutic areas.

The IPO includes a fresh issue of ₹800 crore and an offer for sale (OFS) by existing promoters and shareholders amounting to ₹1,151 crore, making the total issue size ₹1,952 crore at the top of the price band.

Promoters participating in the OFS include Satish Ramanlal Mehta, Sunil Rajnikant Mehta, Namita Vikas Thapar, and Samit Satish Mehta.

Other shareholders selling shares in the OFS are 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. The registrar for the offering is Link Intime India Private Ltd.