Emcure Pharma IPO day 1: Issue fully subscribed on day 1, details here

Emcure Pharma IPO, which created a buzz among investors ahead of the launch, saw a strong response on the first day of bidding on July 3 as the public issue was fully subscribed. The initial public offering (IPO) of the pharma company was booked 1.32 times on the first day as investors placed bids for over 1.8 crore shares against 1.37 crore shares on offer.

The Non-Institutional Investors (NIIs) led the demand for the pharma company’s public issue. The mainboard public issue was subscribed 2.7 times in the NIIs’ category with applications for over 79.75 lakh shares against 29.49 lakh shares reserved for them.

Retail investors placed bids for more than 95.36 lakh shares compared to 68.82 lakh shares reserved for the segment, leading to a subscription of 1.39 times.

The issue saw muted demand from the Qualified Institutional Buyers (QIB) with bidding for more than 2.69 lakh shares against the 37.62 lakh shares reserved for the category.

Employees booked the issue 2.25 times, as they bid for over 2.45 lakh shares against the 1.08 lakh set aside for the category.

Emcure Pharma IPO offer size, price band and lot size

Emcure Pharma IPO is a book-building issue worth ₹1,952.03 crore. The IPO consists of a fresh issue of 79 lakh shares aggregating to ₹800 crore and an offer-for-sale (OFS) component of 1.14 crore shares aimed at raising ₹1,152.03 crore. The price band for Emcure Pharma IPO has been fixed at ₹960 to ₹1008 per share.

The minimum lot size for retail investors is 14 shares, aggregating to a minimum investment of ₹14,112.

Emcure Pharma IPO allotment status and listing date

Emcure Pharma IPO subscription window is open from July 3 to July 5. Emcure Pharma IPO share allotment status is likely to be finalised by July 8 and refunds will be initiated for unsuccessful bidders on July 9. Successful bidders will also receive the shares in their Demat accounts the same day.

The shares of the pharmaceutical company are likely to list on the NSE and BSE on July 10.

The registrar for Emcure Pharma’s public issue is Link Intime India Private Ltd.

Emcure Pharma Limited: Key financials

The pharma company’s revenue from operations for the fiscal year ended March 31, 2024, surged more than 11% to ₹6,658 crore against ₹5,985 crore in the preceding fiscal. Emcure Pharma’s profit after tax (PAT) for FY24 declined more than 6% to ₹527.58 crore compared to ₹561.85 crore in FY23. Emcure Pharmaceuticals reported an increase of 18% in its net worth to ₹2,952.28 crore in FY24 compared to ₹2,501.13 crore in the preceding fiscal.

Emcure Pharma Limited IPO objective

The pharmaceutical company will utilise the proceeds of the public issue for repayment of its borrowings. A portion of the proceeds will also be used for general corporate purposes.

About Emcure Pharma Limited

Emcure Pharma is a Pune-based company and is engaged in developing, manufacturing, and marketing various products for the pharmaceutical industry. The pharmaceutical company was established in 1981.