Emcure Pharma Soars 34.8% on NSE at Close

10 Jul 2024 , 03:39 PM

Emcure Pharmaceuticals shares made a spectacular start on July 10, closing at ₹1,359.15, a 34.8% premium to the issue price of ₹1,008.

This comes after a successful Initial Public Offering (IPO), which sparked tremendous investor interest. Emcure’s IPO, which ran from July 3 to July 5, was a book-built offering for ₹1,952.03 Crore.

QIBs dominated the bidding, subscribing 92.94 times their permitted quota, while non-institutional investors purchased 42.57 times the reserved fraction. Employees of Emcure Pharmaceuticals expressed substantial interest, bidding 7.9 times their permitted quota, while retail investors purchased 6.33 times.

The IPO includes a new issue of 0.79 Crore shares worth ₹800 Crores and an offer for sale of 1.14 Crore shares worth ₹1,152.03 Crores. The price band for the IPO was fixed at ₹960 to ₹1,008 per share.

The allotment of shares was finalised on July 8, and Emcure Pharma shares were scheduled to be listed on the BSE and NSE on July 10.

The IPO is being managed by Kotak Mahindra Capital Company Limited, Axis Capital Limited, J.P. Morgan India Private Limited, and Jefferies India Private Limited, with Link Intime India Private Ltd serving as the registrar.

Emcure Pharmaceuticals, headquartered in India, specialises in the discovery, production, and global marketing of pharmaceutical products across a variety of therapeutic areas. Emcure’s pharmaceutical range comprises orals, injectables, and biotherapeutics, and the company operates in more than 70 countries throughout the world.

The company has 13 manufacturing facilities in India and produces a variety of dosage forms, including oral solids, oral liquids, and injectables, both liposomal and lyophilized. These facilities are also capable of producing biotherapeutics and complicated active pharmaceutical ingredients (APIs), including chiral molecules, iron molecules, and cytotoxic compounds.

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