The IPO listing date for Emcure Pharmaceuticals has been set for Wednesday, July 10, which is tomorrow. The IPO allocation for Emcure Pharmaceuticals has been completed. On Monday, July 8, the IPO allotment date for Emcure Pharma was set. The crediting of shares to demat accounts for those who have been awarded shares will take place today, Tuesday, July 9. Furthermore, today will mark the completion of the share refunding process for those who have not yet received their shares.
On the third day of the bidding process, non-institutional investors were the main cause of the Emcure Pharma IPO’s oversubscription. Emcure Pharmaceuticals’ IPO subscription status was 67.87 times, per BSE statistics.
Subscriptions were received by non-institutional investors 48.32 times, while retail investors’ portion was booked 7.21 times. There were 195.83 bookings for Qualified Institutional Buyers (QIBs) and 8.81 subscriptions for the employee component.
The subscription status for Emcure Pharmaceuticals’ initial public offering (IPO) was 1.32 times on the first day of bidding and 4.98 times on the second, as per BSE data.
Emcure Pharmaceuticals is a Pune-based enterprise that carries out research, develops, manufactures, and distributes pharmaceutical products globally, including numerous therapeutic domains. The subscription period for the shares, which had a price range of ₹960 to ₹1,008, ended on July 5. On Wednesday, July 3, subscriptions for the IPO of Emcure Pharmaceuticals became available.
Prashanth Tapse, Research Analyst and senior Vice President of Research at Mehta Equities states that from the first to the last day of the offering, investors of all stripes responded enthusiastically to Emcure Pharma. Given the attractive prices and the chance to participate in the top Indian pharmaceutical firm specializing in HIV antiviral therapy and gynecology, we think investor demand has increased. With all the factors taken into account, including market attitude and subscriber demand, there is a good chance of a listing gain of between 25 and 30 percent.
Before listing, let’s see what the Emcure Pharmaceuticals IPO GMP today indicates.
Today’s IPO GMP for Emcure Pharma is +352. This suggests that, according to investorgain.com, the price of Emcure Pharmaceuticals shares was selling at a premium of ₹352 on the black market.
Including the top end of the IPO pricing band and the current premium on the gray market, the expected listing price for the Emcure Pharma IPO was ₹1,360 per share, or 34.92% more than the IPO price of ₹1,008 overall.
Based on the activities of the previous 13 grey market sessions, IPO GMP is going up and should have a strong listing. According to researchers at investorgain.com, the GMP can range from ₹0 to ₹390.
The term ‘grey market premium’ reflects investors’ willingness to pay a price higher than the initial offering price.
The IPO Facts for Emcure Pharmaceuticals
The IPO includes a new offering of ₹800 crore and a sale of ₹1,151 crore by current promoters and shareholders. The issue size at the upper end of the pricing range is valued at ₹1,952 cr.
The OFS’s selling stockholders comprise promoters Satish Ramanlal Mehta, Sunil Rajanikant Mehta, Samit Satish Mehta, and Namita Vikas Thapar.
In addition, BC Investments IV together with Bhavana Satish Mehta, Kamini Sunil Mehta, Pushpa Rajnikant Mehta, Arunkumar Purshotamlal Khanna, Sonali Sanjay Mehta and Berjis Minoo Desai, would be offloading shares in the OFS.
For the Emcure Pharma IPO, J.P. Morgan India Private Limited, Axis Capital Limited, Jefferies India Private Limited, and Kotak Mahindra Capital Company Limited are the book-running lead managers. Link Intime India Private Ltd. is the offering’s registrar.
