Emcure Pharma IPO day 3: Issue booked over 9 times on final day of bidding; details here

Emcure Pharma IPO is witnessing decent demand from investors as the issue has been booked over nine times so far on the third and final day of bidding.

The mainboard initial public offering (IPO) of the pharma company received bids of over 10.94 crore shares compared to 1.37 crore shares offered for bidding, the NSE data up to 11:55 am showed.

The non-institutional investors (NIIs) category led the demand for the pharmaceutical company’s shares in the IPO. NIIs placed bids for over 7.25 crore shares compared to 29.49 lakh shares reserved for the category, subscribing the portion 24.59 times.

Retail investors placed bids for more than 3.16 crore shares against 68.82 lakh shares set aside for the category, leading to a subscription of 5.21 times.

The qualified institutional buyers (QIBs) segment was also fully subscribed as the investors placed bids for more than 45.57 lakh shares against the 37.62 lakh shares set aside for the category.

Employees of the company also placed bids for over 6.76 lakh shares compared to 1.08 lakh shares reserved for the category. The issue was booked 6.21 times in the employee category.

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Emcure Pharma IPO: Price band, issue size and lot size

Emcure Pharma IPO price band has been fixed at ₹960 to ₹1,008 per share. The mainboard public offer consists of a fresh issue of 79 lakh shares amounting to ₹800 crore along with an offer-for sale (OFS) of 1.14 crore shares aggregating to ₹1,152.03 crore.

The minimum lot size for retail investors to apply for Emcure Pharma IPO is 14 shares. Based on the upper limit of Emcure Pharma’s price band of ₹1,008, the minimum investment for retail investors is ₹14,112.

Emcure Pharma: IPO share allotment status, listing date and other details

The subscription window for Emcure Pharma IPO opened earlier this week on Wednesday, July 3 and will close today on Friday, July 5. The share allotment status of Emcure Pharma is likely to be finalised by Monday, July 8. Successful bidders will receive Emcure Pharma’s shares in their demat accounts on Tuesday, July 9, and refunds will be issued for unsuccessful bidders the same day. Shares of the pharmaceutical company are likely to be listed on the NSE and BSE on July 10.

About Emcure Pharma

Emcure Pharma India was incorporated in 1981. The Pune based company is engaged in developing, manufacturing and marketing pharmaceutical products. The company employs 552 scientists and operates five research facilities in India. The pharma company has 13 manufacturing facilities across India.