Emcure Pharmaceuticals IPO subscription status: On the third day of bidding, the whole share of the Emcure Pharma IPO was oversubscribed, with non-institutional investors taking the lead. According to BSE data, the subscription status for Emcure Pharmaceuticals IPO is 11.63 times as of 13:00 IST.
Non-institutional investors subscribed 31.67 times, with retail investors booking 5.36 times. Qualified Institutional Buyers (QIBs) were booked 7.54 times, while the employee component received 7.11 subscriptions.
According to BSE data, the initial share sale got bids for 15,94,39,266 shares and offered 1,37,03,538 shares.
Emcure Pharmaceuticals’ initial public offering on the second day of bidding was well greeted by investors, and the market overall was strong. Individual investors, non-institutional investors, and qualified institutional purchasers have all shown interest, making the offering run more smoothly.
According to BSE data, the subscription status for Emcure Pharmaceuticals’ IPO was 4.98 times on day two and 1.32 times on day one of bidding.
Emcure Pharmaceuticals, headquartered in Pune, conducts research, develops, manufactures, and sells pharmaceutical products worldwide across a wide range of therapeutic areas. The offering for shares valued between ₹960 and ₹1,008 will close on July 5.
Review of Emcure Pharmaceuticals’ Initial Public Offering
According to the brokerage, Emcure Pharmaceuticals is a dominant participant in the pharmaceutical business. It will continue to develop and be profitable in the coming years thanks to its excellent R&D focus, worldwide presence, market leadership in India, and responsible financial management. With a P/E ratio of 36.6x, the stock is attractively valued in comparison to its listed peers. The brokerage recommends SUBSCRIBING to this issue in the long run.
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The brokerage made it clear that the company wants to use the additional funds to lower and eventually eliminate its long-term debt. With a focus on vital therapeutic sectors such as gynecology, the company has historically grown from strength to strength. Now, to support its future development and expand its margins, it is attempting to capitalize even more on these capabilities. In comparison to its listed competitors, the IPO is reasonably priced, and we recommend subscribing for the long term.
Details about Emcure Pharmaceuticals’ Initial Public Offering
The IPO includes both a fresh sale of ₹800 crore and an offer by existing promoters and shareholders to sell ₹1,151 crore. At the highest price range, the issue size is worth ₹1,952 crore.
OFS selling shareholders include promoters Satish Ramanlal Mehta, Sunil Rajanikant Mehta, Namita Vikas Thapar, and Samit Satish Mehta.
Axis Capital Limited, J.P. Morgan India Private Limited, Jefferies India Private Limited, and Kotak Mahindra Capital Company Limited are the bookrunners for the Emcure Pharma IPO. Link Intime India Private Ltd. serves as the offering’s registrar.
Emcure Pharmaceuticals launched its IPO GMP today
Emcure Pharma’s IPO GMP today is +335. Emcure Pharmaceuticals’ share price was selling at a premium of ₹335 in the gray market, according to investorgain.com.
Emcure Pharma’s planned listing price of ₹1,343 per share is 33.23% more than the initial public offering price of ₹1,008.
The ‘grey market premium’ reflects investors’ willingness to pay more than the issue price.
