Retail and NII segments of EMCURE Pharma IPO fully booked on day one, view other details including GMP
Emcure Pharmaceuticals Limited IPO (Emcure Pharma IPO) opened for subscription from July 3. It is a book built issue through which the company plans to raise Rs 1952.03 crore. Investors responded well to this IPO on the first day itself.
Emcure Pharmaceuticals Limited’s IPO has been subscribed 1.34 times on the first day so far. It was booked 1.45 times in the retail segment, 2.78 times in the NII segment and 0.07 times in the QIB segment. Before opening the issue, the company had raised Rs 582 crore from anchor investors.
About 50% of the public offer is reserved for qualified institutional buyers (QIBs), 35% for retail investors and the remaining 15% for non-institutional investors (NIIs).
The net proceeds from the new issue will be used for repayment and/or prepayment of all or a part of certain outstanding loans taken by the Company. This amount will be around Rs 600 crore. A portion of the IPO proceeds will be used for general corporate purposes.
Emcure Pharma IPO Review
Emcure Pharmaceuticals is engaged in the development, manufacturing and marketing of a wide range of pharmaceutical products across a number of key therapeutic areas. Analysts believe the company’s business has growth opportunities.
On the valuation front, in the upper band, the company is roughly valued at a P/E of 36x based on FY24 earnings after issuing equity shares. We recommend subscribe – long-term ratings on IPOs, says Anand Rathi.
Emcure Pharma IPO Price Band
Emcure Pharma’s IPO price band has been fixed at Rs 960-1008 per share. Minimum lot size is 14 shares. The minimum investment amount for retail investors is Rs 14 thousand 112.
Emcure Pharma IPO GMP
According to market analysts, Emcure Pharma’s IPO GMP in the unlisted market is Rs 325, which is 32.2 percent above the cap price. Before the opening of the issue, the GMP was around Rs.299.
Other details
Pune based firm Emcure Pharmaceuticals Limited is a pharmaceutical company engaged in the development, manufacturing and global marketing of pharmaceutical products across a wide range of therapeutic areas.
The company is ranked 13th in domestic sales among pharmaceutical companies in India for MAT September 2023 and 4th in market share across its covered markets for the same period.
Pharmaceuticals has 13 manufacturing facilities in India, manufacturing pharmaceutical and biopharmaceutical products including tablets, liquids, injectables and complex formulations.
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Company revenue grew by 11.33% and profit after tax (PAT) declined by -6.1% between the financial years ended March 31, 2024 and March 31, 2023.
For the period ended March 31, 2024, revenue was Rs 6715.24 crore and profit after tax was Rs 527.58 crore.
The IPO will close on July 5. The allotment of shares for the IPO is likely to be finalized on July 8 and the company is expected to list the shares on July 10.
Emcure Pharma IPO
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