Emcure Pharmaceuticals share price made a strong debut on the bourses today. On NSE and BSE, Emcure Pharmaceuticals share price opened at ₹1,325.05 per share, 31.45% higher than the issue price of ₹1,008.
Market experts anticipated Emcure Pharmaceuticals share price to open in the range of ₹1,370 to ₹1,390 apiece.
All sections of the Emcure Pharma IPO were oversubscribed on the third day of the bidding process, with non-institutional investors leading the way. According to BSE data, Emcure Pharmaceuticals IPO subscription status was 67.87 times.
The retail investors component was booked 7.21 times, while the non-institutional investors received a subscription 48.32 times. The employee component has 8.81 times as many subscriptions as the qualified institutional buyer (QIB), with 195.83 subscriptions.
Emcure Pharmaceuticals, a Pune-based business, conducts research, develops, produces, and markets pharmaceutical products worldwide across many therapeutic areas. The shares, which range in price from ₹960 to ₹1,008, were part of the offering that ended on July 5.
The IPO consists of an offer by existing promoters and shareholders to sell ₹1,151 crore as well as a fresh offering of ₹800 crore. At the upper price point in the pricing range, the issue size is worth ₹1,952 crore.
The promoters Satish Ramanlal Mehta, Sunil Rajanikant Mehta, Namita Vikas Thapar, and Samit Satish Mehta are among the selling shareholders in the OFS.
In addition, BC Investments IV, Pushpa Rajnikant Mehta, Bhavana Satish Mehta, Kamini Sunil Mehta, Arunkumar Purshotamlal Khanna, Berjis Minoo Desai, and Sonali Sanjay Mehta will sell shares in the OFS.
The company intends to use the net proceeds to finance the following goals: general corporate objectives; repayment and/or payback of all or a portion of certain outstanding borrowings obtained by the organisation.
For the Emcure Pharma IPO, Axis Capital Limited, J.P. Morgan India Private Limited, Jefferies India Private Limited, and Kotak Mahindra Capital Company Limited are the book running lead managers. Link Intime India Private Ltd. is the offering's registrar.
Emcure Pharma IPO GMP today is +300 . This indicates Emcure Pharmaceuticals share price were trading at a premium of ₹300 in the grey market, according to investorgain.com.
Emcure Pharma's estimated IPO listing price was given as ₹1,308 per share, which is 29.76% more than the IPO price of ₹1,008 after taking into account the top end of the IPO pricing band and the existing premium on the grey market.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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