Emcure Pharmaceuticals IPO subscription status: The market as a whole was strong, and investors responded well to Emcure Pharmaceuticals' initial public offering (IPO) on the second bidding day today. Non-institutional investors, individual investors, and qualified institutional buyers have all shown interest, which has helped the offering flow rather smoothly.
Emcure Pharmaceuticals IPO subscription status was 4.98 times, on the second day, as per BSE data.
The initial share-sale received bids for 6,82,10,940 shares against 1,37,03,538 shares on offer, as per BSE data.
The quota for non-institutional investors fetched 13.67 times subscription while the portion for Qualified Institutional Buyers (QIBs) got subscribed 1.00 times. The category for retail investors received 3.43 times subscription, and the employee portion was booked 4.83 times.
On the first bidding day, Emcure Pharma IPO subscription status was 1.32 times, as per BSE data.
Emcure Pharmaceuticals is a Pune-based firm that conducts research, develops, produces, and markets pharmaceutical products internationally in many therapeutic areas. The offering, which has a price range of ₹960 to ₹1,008 per share, is open for public subscription till July 5th.
The Bain Capital-backed Emcure Pharmaceuticals announced on Tuesday that, just one day before its inaugural share-sale offer opened for public subscription, it had raised ₹583 crore from anchor investors.
The anchor book comprises investors such as Abu Dhabi Investment Authority, Goldman Sachs Asset Management, Nomura, HDFC Life Insurance Company, ICICI Prudential Life Insurance Company, SBI Life Insurance Company, Nippon India MF, and Abu Dhabi Mutual Fund.
Up to 108,900 equity shares of the employee portion have been earmarked for the IPO. Additionally, qualified institutional investors (QIBs) will get 50% of the issue size, retail investors would receive 35%, and non-institutional investors will receive the remaining 15%. Investors may also place bids for a minimum of 14 shares and for additional shares in multiples of 14.
Also Read: Emcure Pharmaceuticals IPO: Shark Tank’s Namita Thapar likely to earn ₹127 crore from OFS
The IPO comprises of a fresh offering of ₹800 crore and an offer by existing promotersand shareholders to sell ₹1,151 crore. The value of the issue size at the top of the price band is ₹1,952 crore.
The selling shareholders in the OFS include promoters Satish Ramanlal Mehta, Sunil Rajanikant Mehta, Namita Vikas Thapar, and Samit Satish Mehta.
Furthermore, shares in the OFS will be offloaded by Pushpa Rajnikant Mehta, Bhavana Satish Mehta, Kamini Sunil Mehta, Arunkumar Purshotamlal Khanna, Berjis Minoo Desai, and Sonali Sanjay Mehta, in addition to BC Investments IV.
The book running lead managers for the Emcure Pharma IPO are Axis Capital Limited, J.P. Morgan India Private Limited, Jefferies India Private Limited, and Kotak Mahindra Capital Company Limited. The registrar for the offering is Link Intime India Private Ltd.
Emcure Pharma IPO GMP today is +345. This indicates Emcure Pharmaceuticals share price were trading at a premium of ₹345 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, Emcure Pharma IPO expected listing price was indicated at ₹1,353 apiece, which is 34.23% higher than the IPO price of ₹1,008.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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