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3 min read | Updated on July 05, 2024, 17:17 IST
SUMMARY
Emcure Pharmaceuticals IPO is a mix of fresh issue of shares worth ₹800 crore and OFS (offer for sale) component of 1.14 crore equity shares aggregating to ₹1,152 crore by promoters and existing shareholders.
Emcure Pharmaceuticals IPO was open from July 3 to July 5.
Emcure Pharmaceuticals' IPO (initial public offering) was subscribed 67.84 times on Friday, July 5, the final day of bidding, supported by heavy participation from qualified individual investors (QIBs).
The ₹1,952 crore initial share sale received bids for 92.96 crore shares against 1.37 crore shares on offer, as per the National Stock Exchange (NSE) data.
The category for QIBs got subscribed 195.83 times, while the non-institutional investors' portion received 48.28 times subscription. The part for retail investors was subscribed 7.18 times.
The issue, with a price band in a range of ₹960 to ₹1,008 per share, was open from July 3 to July 5.
The IPO is a mix of fresh issue of shares worth ₹800 crore and OFS (offer for sale) component of 1.14 crore equity shares aggregating to ₹1,152 crore by promoters and existing shareholders.
Investors selling their shares in the OFS include promoters Satish Mehta, Namita Thapar and BC Investments IV Limited, an affiliate of private equity firm Bain Capital.
Before the IPO, the company had raised ₹583 crore from anchor investors such as ICICI Prudential MF, SBI MF, HDFC Mutual Fund, Abu Dhabi Investment Authority, Goldman Sachs Asset Management, HDFC Life Insurance Company, Nippon India MF, SBI Life Insurance Company, ICICI Prudential Life Insurance Company and Nomura.
The funds from the fresh issue will be used for debt repayment and general corporate purposes.
Emcure Pharmaceuticals, based in Pune, develops, manufactures, and markets a wide range of pharmaceutical products across several major therapeutic areas.
JP Morgan India, Kotak Mahindra Capital Company, Axis Capital and Jefferies India are book-running lead managers to the issue.
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