Emcure IPO: Subscription At 63%, Check Latest GMP

Emcure Pharmaceuticals has launched its IPO valued at ₹1,952.03 crores. The IPO, which opened for subscription on July 3, 2024, and will close on July 5, 2024, consists of a fresh issue of 0.79 crore shares aggregating to ₹800 crore and an offer for sale of 1.14 crore shares aggregating to ₹1,152.03 crore.

Emcure IPO Subscription Status

As of 1:02 pm on July 3, the Emcure Pharma IPO has seen a subscription status of 0.63 times. The retail investor portion was subscribed 0.80 times, and non-institutional investors (NII) saw a subscription of 1.01 times. The Qualified Institutional Buyers (QIBs) portion was subscribed 0.00 times.

Emcure IPO GMP

The Emcure IPO GMP is currently reported at ₹299. With the upper price band of the IPO at ₹1,008, the stock is expected to list at ₹1,307, indicating a premium of around 29.66% on listing. However, it’s crucial to remember that while GMPs can provide some insight into market sentiment towards an IPO, they are not always a reliable predictor of the stock’s performance upon listing.

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Emcure IPO Details

The Emcure IPO price band is set at ₹960 to ₹1,008 per share, with a minimum lot size for an application being 14 shares. The company intends to use the net proceeds from the offering for prepayment or scheduled repayment of existing borrowings, financing working capital requirements, and addressing general corporate purposes. Shares of the company are tentatively scheduled to be listed on both the BSE and NSE, on Wednesday, July 10, 2024.

Prior to its IPO launch, the company successfully secured ₹582.6 crores from anchor investors. This allocation was made on July 2, 2024, wherein 57.79 lakh equity shares were allotted to anchor investors at ₹1,008 per share. Notable participants in the anchor round include the Abu Dhabi Investment Authority, Goldman Sachs, and Morgan Stanley.

Emcure Pharma Details

Established in 1981, Emcure Pharmaceuticals develops, manufactures, and globally markets a wide range of pharmaceutical products across several major therapeutic areas. The Namita Thapar-backed company is ranked 13th in domestic sales among pharmaceutical companies in India for MAT September 2023 and 4th in market share in its covered markets for the same period.

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