Namita Thapar's Emcure Pharma IPO listing: Shares debut at 31.4% premium on NSE and BSE

Emcure Pharmaceuticals shares made a strong debut on stock exchanges on Wednesday, July 10. The stock listed at a premium of 31.4% at ₹1,325 apiece against the issue price of ₹1,008 on the National Stock Exchange (NSE) and the BSE (formerly Bombay Stock Exchange).

The public offer received bids for 92.99 crore shares against 1.37 crore shares on offer amid heavy participation from qualified institutional buyers (QIBs).

The QIBs' portion was subscribed 195.83 times while non-institutional investors or NIIs part received 48.32 times subscription, and the part set aside for retail individual investors (RIIs) received 7.21 times subscription.

The initial share sale, open for subscription from July 3 to July 5, had fixed the price band of ₹960 to ₹1,008 per scrip.

The ₹1,952 crore IPO is a mix of fresh issuance of shares worth ₹800 crore and an offer-for-sale (OFS) component of 1.14 crore shares worth ₹1,152 crore.

Those offloading their stake in the OFS include promoters Satish Mehta and Namita Thapar, as well as investor BC Investments IV Ltd, an affiliate of United States-based equity major Bain Capital.

The IPO proceeds will be used to repay debt and for general corporate purposes.

About Emcure Pharma

Emcure Pharmaceuticals develops, manufactures, and markets pharmaceutical products globally across several major therapeutic areas.

The company reported an 11% increase in revenue to ₹6,658 crore for the financial year ended March 31, 2024, as against ₹5,985 crore in the preceding fiscal. In FY24, the net profit fell around 6% to ₹527.58 crore compared to ₹561.85 crore in FY23.

Jefferies India, Kotak Mahindra Capital Company, JP Morgan India, and Axis Capital are the issue's book-running lead managers.