Emcure Pharma IPO Day 2: Check subscription status, allotment date & other details

After getting fully subscribed on the first day, the initial public offering (IPO) of Emcure Pharmaceuticals is open for subscription on Day 2. As per the consolidated data available with the National Stock Exchange (NSE), the offer has been subscribed nearly twice.

Bids for a total of 2,68,05,310 shares have been received, as against 1,37,03,538 shares on offer, as the per data shared by NSE at 10:46 am on Thursday, July 4. This marked an overall subscription of 1.96 times.

The maximum bids have been placed by non-institutional investors (NIIs), who have subscribed to the issue 4.33 times as compared to their allotted portion. They have so far booked 1,27,82,168 shares, as against 29,49,523 on offer.

Retail individual investors have so far booked 1.95 times the portion allotted for them, the NSE data showed. As against the reserved portion of 68,82,219 shares, they have placed bids for 1,33,97,272 shares.

The Qualified Institutional Buyers (QIBs), however, lag behind, as they have subscribed only 0.08 times of the portion reserved for them. The QIBs have placed bids for 2,82,800 shares, as against 37,62,896 on offer.

The last date for subscription is Friday, July 5. The allotment status will be finalised on either Saturday, July 6 or Monday, July 8, reports said. The listing is expected on Wednesday, July 10.

Emcure Pharma IPO details

The IPO comprises fresh issuance of equity shares worth ₹800 crore and an offer of sale (OFS) of 1.14 crore equity shares to the tune of ₹1,152 crore, at the upper end of the price band, by promoters and existing shareholders. This aggregates the total public issue size to ₹1,952 crore.

Those selling shares in the OFS include promoter Satish Mehta and investor BC Investments IV Ltd, an affiliate of US-based private equity major Bain Capital.

Currently, Satish Mehta holds a 41.85% stake in the company and BC Investments owns a 13.07% stake.

Proceeds of the fresh issue will be used towards payment of debt and for general corporate purposes.

Emcure Pharma on Tuesday said it has garnered Rs 583 crore from anchor investors.

The Pune-based pharmaceuticals company, which has Shark Tank India fame Namita Thapar among its board of directors, is engaged in developing, manufacturing, and globally marketing a broad range of pharmaceutical products across several major therapeutic areas.

Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JP Morgan India are the book-running lead managers to its issue. The equity shares of the company will list on the BSE and the NSE.