Emcure Pharmaceuticals IPO Receives 67.84x Subscription on Last Day

Today, on the last day of the bidding process, Emcure Pharmaceuticals Limited IPO was subscribed 67.84 times. The retail portion was subscribed to 7.33x, 191.24x in Qualified Institutional Buyers (QIB), 49.28x in Non-Institutional Investors (NII), and 8.78x in the employees category.

Here’s a table to understand the day-wise subscription

Emcure Pharmaceuticals Ltd’s IPO opened on July 3, 2024, and closed on July 5, 2024. Allotment results are expected by July 8, 2024. The IPO is expected to list on both the BSE and NSE on July 10, 2024.

In the grey market on July 5, 2024, unlisted shares of Emcure Pharmaceuticals Ltd were trading at ₹360.

The IPO price range is set between ₹960 to ₹1,008 per share, with a minimum lot size of 14 shares requiring an investment of ₹14,112 for retail investors. It includes a combination of fresh issue and Offer For Sale (OFS), aiming to raise up to ₹1,952.03 crore.

The objective of the IPO is to repay and/ or prepay all or a portion of certain outstanding borrowings availed by the company and for general corporate purposes.

Earlier, on July 2, 2024, the company and its book-running lead managers allocated 57,79,850 equity shares to Anchor Investors at ₹1,008 per share.

About Emcure Pharmaceuticals Ltd

Emcure Pharmaceuticals Ltd, an Indian company, specialises in global research, development, manufacturing, and marketing of a diverse range of pharmaceutical products. Their portfolio includes oral, injectable, and biotherapeutic drugs, serving over 70 countries with significant operations in India, Europe, and Canada.

As of March 2024, the company reported revenue from operations of ₹66,582.51 million, marking an 11.22% increase from ₹59,858.11 million in FY 2023. Profit for FY 2024 was ₹5,275.75 million, reflecting a 6.06% decrease from ₹5,618.45 million in FY 2023.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.