Emcure Pharma IPO Allotment Today: Unlisted shares of Emcure Pharma Ltd are trading Rs 390 higher in the grey market, signalling a 38.69 per cent listing gain from the public issue.
Emcure Pharma IPO Allotment Date: The share allotment of the initial public offering of Emcure Pharmaceuticals Ltd is likely to be finalised today, Monday, July 7. Once allotted, investors will start receiving bank debit messages, most likely in the evening today. Investors can also check the Emcure Pharma IPO status on Link Intime India’s portal.
The Rs 1,952-crore Emcure Pharma IPO, which was opened for public subscription between July 3 and July 5, received a whopping 67.87 times subscription garnering bids for 92,99,96,438 shares as against 1,37,03,538 shares on offer.
The price band of the IPO was fixed at Rs 960-Rs 1,008 per share.
The Emcure Pharma IPO had received 1.31 times subscription on the first day of bidding on Wednesday, and 5 times on Day 2. A day before its IPO, Emcure Pharmaceuticals on Tuesday garnered Rs 583 crore from anchor investors.
Shark Tank judge Namit Thapar, who is the executive director of Emcure Pharmaceuticals, offloaded shares worth Rs 128 crore through the IPO.
After the IPO allotment today, the company’s shares will likely be listed on BSE and NSE on July 10.
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Emcure Pharma IPO: How To Check Allotment Status
Once the IPO allotment is finalised, the status can be checked by following these steps:
1) Go to the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.
2) Under ‘Issue Type’, select ‘Equity’.
3) Under ‘Issue Name’, select ‘Emcure Pharma Ltd’ in the dropbox.
4) Enter your application number, or the Permanent Account Number (PAN).
5) Then, click on the ‘I am not a robot’ to verify yourself and hit ‘Search’ option.
Your share application status will appear on your screen.
You can also visit direct Link Intime India’s portal — https://linkintime.co.in/initial_offer/public-issues.html and check the Emcure Pharma IPO allotment status.
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Emcure Pharma IPO GMP Today
According to market observers, unlisted shares of Emcure Pharma Ltd are trading Rs 390 higher in the grey market as compared with its issue price. The Rs 390 grey market premium or GMP means the grey market is expecting a 38.69 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
The GMP of Rs 390 is higher than the Rs 350 premium in grey market on the final day of bidding on Friday.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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Emcure Pharma IPO: More Details
The IPO comprises fresh issuance of equity shares worth Rs 800 crore and an Offer For Sale (OFS) of 1.14 crore equity shares to the tune of Rs 1,152 crore, at the upper end of the price band, by promoters and existing shareholders. This aggregates the total public size to Rs 1,952 crore.
Those selling shares in the OFS include promoter Satish Mehta and investor BC Investments IV Ltd, an affiliate of US-based private equity major Bain Capital. Currently, Satish Mehta holds a 41.85 per cent stake in the company and BC Investments owns a 13.07 per cent stake.
The quota for non-institutional investors received 49.32 times subscription, while retail individual investors (RIIs) portion got subscribed 7.36 times. The qualified institutional buyers (QIBs) category got 191.24 times subscription.
Emcure raised Rs 800 crore through the IPO, which valued the company at up to Rs 19,060 crore, according to estimates. Bain sold nearly a third of its 13.07% stake in Emcure, with existing investors overall selling shares worth Rs 1,152 crore.
Proceeds of the fresh issue will be used towards payment of debt and for general corporate purposes.
Employee portion has been reserved up to 108,900 equity shares in the IPO. Besides, half of the issue size has been reserved for qualified institutional investors (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.
Further, investors can bid for a minimum of 14 shares and in multiples of 14 shares thereafter.
The Pune-based firm Emcure Pharmaceuticals is engaged in developing, manufacturing, and globally marketing a broad range of pharmaceutical products across several major therapeutic areas.
Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JP Morgan India are the book-running lead managers to the issue. The equity shares of the company are expected to list on the BSE and NSE on July 10.
Earlier this month, the company received Sebi’s go-ahead to float initial share sale.
Emcure Pharmaceuticals Ltd’s revenue increased 11.33 per cent and profit after tax (PAT) fell 6.1 per cent between the financial year ending with March 31, 2024 and March 31, 2023.
