Emcure Pharma IPO: Emcure Pharma’s IPO has received a strong response from investors. Institutional and non-institutional investors have invested heavily on the last day of applying for the IPO, due to which Emcure Pharma’s IPO has closed with 67.87 times subscription. The company aims to raise Rs 1952.03 crore from the capital market through the IPO.
QIB category subscribed 196 times
According to BSE data, if we look at the subscription details, 37,62,896 shares were reserved for institutional investors (QIBs) in the IPO and applications have been received for a total of 73,68,91,932 shares. The category of institutional investors has been subscribed 195.83 times. 29,49,523 shares were reserved for non-institutional investors and applications have been received for a total of 14,25,26,523 shares. This category has been subscribed a total of 48.32 times.
68,82,219 shares were reserved for the retail investors category and applications were received for 4,96,18,982 shares and this category has been subscribed 7.21 times. While the category reserved for employees has been subscribed 8.81 times. Let us tell you that Namita Thapar, who was a judge of Shark Tank India, is a whole-time director in Emcure Pharma. While her father Sanjeev Mehta laid the foundation of the company.
IPO price band: Rs 960 – 1008
Emcure Pharma’s IPO was open for application from 3 to 5 July 2024. In the IPO of Rs 1952.03 crore, the company is raising Rs 800 crore by issuing new shares and Rs 1152.03 crore through offer for sale. Existing investors of the company are selling their shares in the offer for sale. The company has raised Rs 582.61 crore from anchor investors. The company has fixed the IPO price band of Rs 960 – 1008 for a share with a face value of Rs 10. Emcure Pharma is expected to be listed on BSE – NSE on July 10, 2024.
Listing possible at 36% premium
In the grey market, the GMP of Emcure Pharma’s IPO is trading at Rs 365. According to this, the IPO can be listed on the stock exchange at a price of Rs 1373, which is 36 percent more than the upper level of the price band.
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