Emcure Pharmaceuticals Lists at 31% Premium on the Bourses

10 Jul 2024 , 09:52 AM

Emcure Pharmaceuticals made a strong debut on the stock exchanges, listing at ₹1325.05 on both BSE and NSE, reflecting a 31.25% premium over its issue price of ₹1008.

The robust listing is indicative of the significant interest generated by the company’s ₹1,952-Crore initial public offering (IPO). The issue was subscribed a remarkable 67.87 times, showcasing substantial demand across all investor categories:

• Retail Investors: Subscribed 7.36 times
• Qualified Institutional Buyers (QIBs): Subscribed 191.24 times
• Non-Institutional Investors (NIIs): Subscribed 49.32 times

Prior to the public offering, Emcure Pharmaceuticals raised ₹582.6 Crore through an anchor book. Notable global investors, including the Abu Dhabi Investment Authority, Goldman Sachs, and Morgan Stanley, acquired shares worth over ₹71 Crore from the anchor allotment.

The IPO comprised a mix of fresh equity sale and an offer for sale (OFS). The company plans to utilize the net proceeds from the fresh issue for debt repayment and general corporate purposes.

Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JP Morgan India served as the book-running lead managers for the issue.