Emcure Pharmaceuticals IPO subscribed 4.98 times on Day 2

5 Jul 2024 , 09:03 AM

The second bidding day saw the IPO issue of Pune-based Emcure Pharmaceuticals continue to attract investor interest, with the total subscription amount reaching 4.98 times. So, because the issue is available till today, below are the specifics regarding the offer to help you make an investing decision.

The IPO will be open till July 5 and will include ₹800 Crore in fresh equity offering as well as an OFS of 1.14 crore shares by promoters and other shareholders. Shark Tank’s Namita Thapar will sell her share in the OFS. At the upper end of the price range, the business hopes to raise ₹1,952 Crore.

The IPO is priced between Rs 960 and Rs 1008 a share, with buyers able to bid for 14 shares per lot.

Following the issuance, the promoters’ stake in the company will be decreased to 78.24%.

The company is a leading Indian pharmaceutical company that develops, manufactures, and markets a diverse range of pharmaceutical products across many primary therapeutic areas. It is an R&D-focused company with a distinct product range that comprises orals, injectables, and biotherapeutics.

Non-institutional investors subscribed 13.67 times the quota, while retail investors subscribed 3.43 times. The Qualified Institutional Buyers (QIBs) group had a 100% subscription rate. Employees have subscribed 4.83 times.

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