Emcure Pharmaceuticals IPO subscription status: On the third day of bidding, all portion of Emcure Pharma IPO was were oversubscribed with the non-institutional investors on the lead. Emcure Pharmaceuticals IPO subscription status is 67.87 times, as per BSE data.
The non-institutional investors received a subscription 48.32 times, followed by the retail investors portion that was booked 7.21 times. Qualified Institutional Buyers (QIBs) has being booked 195.83 times, while the employee component had 8.81 times subscriptions.
The initial share-sale received bids for 92,99,97,390 shares against 1,37,03,538 shares on offer, as per BSE data.
The initial public offering of Emcure Pharmaceuticals on the second day of bidding was positively received by investors, and the market as a whole was robust. Individual investors, non-institutional investors, and eligible institutional purchasers have all expressed interest, which has made the offering go more smoothly.
Based on BSE data, Emcure Pharmaceuticals IPO subscription status was 4.98 times on day two, and on the first day of bidding the subscription status was 1.32 times.
Pune-based Emcure Pharmaceuticals is a company that carries out research, develops, manufactures, and sells pharmaceutical products globally in a variety of therapeutic areas. The offering, with shares priced between ₹960 and ₹1,008, will end on July 5.
Emcure Pharmaceuticals is a strong player in the pharmaceutical industry, according to the brokerage. It will continue to grow and be profitable in the coming years by utilising its strong R&D focus, global reach, leadership in the Indian market, and responsible financial management. The issue is competitively valued when compared to other listed peers, with a P/E ratio of 36.6x. For long-term benefits, the brokerage advises SUBSCRIBING to this problem.
The brokerage made clear that the business intends to use the additional funds to reduce and eventually eliminate its long-term debt. With an emphasis on important therapeutic fields like gynaecology, the firm has traditionally gone from strength to strength. Now, in order to support its future development and increase its margins, it is trying to build even more on these strengths. In light of its listed competitors, the IPO is fairly valued, and we advise subscribing with an eye toward the long run.
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 +335. This indicates Emcure Pharmaceuticals share price were trading at a premium of ₹335 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 ₹1,343 apiece, which is 33.23% higher than the IPO price of ₹1,008.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
