Emcure Pharmaceuticals IPO: Bidding for the initial public offering (IPO) began on July 3, 2024, and will stay open until July 5, 2024. This implies the public issue will be open until Friday this week. Emcure Pharmaceuticals’ IPO price ranges from ₹960 to ₹1008 per equity share. According to the Emcure Pharmaceuticals IPO subscription status, the public offering was successful on the first day of bidding, and the gray market is equally optimistic about the IPO.
Emcure Pharmaceuticals Limited shares currently trade at a premium of ₹333 in the gray market, according to stock market experts. The pharmaceutical company intends to raise ₹1952.03 crore through its debut offer. The book build issue includes new difficulties and offers for sale (OFS).
Emcure Pharmaceuticals launched its IPO today
Today’s Emcure IPO GMP (grey market premium) is ₹333, up ₹38 from Wednesday’s ₹295. According to stock market analysts, the increase in Emcure Pharmaceuticals IPO GMP can be ascribed to a robust response from primary market investors and a strong bull trend on Dalal Street. They stated that the Nifty 50 index has reached a fresh high above 24,300, implying that the Indian secondary market will see further appreciation. They anticipated more increases in the grey market premium for Emcure Pharmaceuticals’ IPO.
Subscription status for Emcure Pharmaceuticals IPO
On the first day of bidding, the public issue was subscribed 1.32 times; the retail component was booked 1.39 times; the NII section was booked 2.71 times; and the QIB portion was filled 0.07 times.
Review of Emcure Pharmaceuticals’ Initial Public Offering
Rajan Shinde, Research Analyst at Mehta Equities, assigned a’subscribe’ tag to the public offering, saying, “On valuation parse at the top range of Rs.1008/-, the issue is asking for a market value of Rs.19061/- cr. Emcure Pharmaceuticals Ltd is asking for a PE of 36.13x based on FY 2024 earnings and fully diluted post-IPO paid-up capital, which appears fairly priced compared to its listed industry peers, which are trading at an average of PE ~40x, giving decent room for listing gains due to its niche positions and product mix. Emcure is well-positioned for long-term growth with its strategic emphasis on high-growth therapeutic areas, innovative product range, significant global expansions, and strong R&D foundation.
Anand Rathi has tagged the book build issue as subscribe, saying, “On the valuation perspective, at an upper band, the company is fairly priced at P/E of 36x post-issuance of equity shares on FY24 earnings basis. We feel the company has room to grow based on industry tailwinds and business scalability. As a result, we propose a “SUBSCRIBE—long term” rating for the IPO.
Aside from them, certain renowned brokers, such as BP Equities, Canara Bank Securities, DR Choksey, Geojit Securities, Marwadi Shares and Finance, Master Capital Services, Nirmal Bang, Reliance Securities, SBICAP Securities, StoxBox, and others, have given the public issue subscribe tag.
Details about Emcure Pharmaceuticals’ Initial Public Offering
The Emcure IPO allotment date is most likely July 6, 2024. If share distribution is not disclosed by Saturday this week, it will be revealed on Monday next week, July 8, 2024. Emcure Pharmaceuticals’ IPO is slated for the BSE and NSE, with the most likely date being July 10, 2024, which is next Wednesday.
