The share price of Emcure Pharmaceuticals debuted on the bourses with great strength today. The share price of Emcure Pharmaceuticals opened at ₹1,325.05 on the NSE and BSE, which is a 31.45% increase over the issue price of ₹1,008.
Experts in the market predicted that the opening price of Emcure Pharmaceuticals shares will be between ₹1,370 and ₹1,390 per share.
On the third day of the bidding process, all sections of the Emcure Pharma IPO were oversubscribed, with non-institutional investors leading the charge. Emcure Pharmaceuticals IPO subscription status was 67.87 times, based on BSE statistics.
48.32 subscriptions were sent to non-institutional investors, compared to 7.21 bookings for the retail investors component. The qualified institutional buyer (QIB) has 195.83 subscriptions, 8.81 times fewer than the employee component.
Based in Pune, Emcure Pharmaceuticals is a company that conducts research, develops, produces, and promotes pharmaceutical products globally in a variety of therapeutic areas. Priced between ₹960 and ₹1,008, the shares were a part of the offering that concluded on July 5.
The IPO Facts for Emcure Pharmaceuticals
The IPO comprises an offering to sell ₹1,151 crore by current promoters and shareholders and an additional offering to sell ₹800 crore. The issue size has a value of ₹1,952 crore at the top of the pricing range.
Among the OFS’s selling stockholders are Samit Satish Mehta, Sunil Rajanikant Mehta, Namita Vikas Thapar, and founder Satish Ramanlal Mehta.
Plus, shares in the OFS will be sold by Arunkumar Purshotamlal Khanna, Berjis Minoo Desai, Sonali Sanjay Mehta, Pushpa Rajnikant Mehta, Bhavana Satish Mehta, Kamini Sunil Mehta, and BC Investments IV.
The corporation plans to use the net profits to finance the following objectives: paying back all or a portion of existing loans that the organization has secured; and general corporate objectives.
As book-running lead managers for the Emcure Pharma IPO, Axis Capital Limited, J.P. Morgan India Private Limited, Jefferies India Private Limited, and Kotak Mahindra Capital Company Limited are involved. Registration of the offering is done by Link Intime India Private Ltd.
IPO GMP for Emcure Pharmaceuticals today
GMP for Emcure Pharma’s IPO is currently +300. According to investorgain.com, this shows that the price of Emcure Pharmaceuticals shares was selling at a premium of ₹300 on the black market.
Including the top end of the IPO pricing band and the current premium on the grey market, Emcure Pharma’s anticipated IPO listing price was ₹1,308 per share, or 29.76% more than the IPO price of ₹1,008 per share.
