The initial public offering of Emcure Pharmaceutical Ltd.'s Rs 1,952 crore initial public offering comprises a fresh issue of up to Rs 800 crore and an offer for sale of 1.14 crore equity shares. The issue was subscribed 67.87 times on Friday.
It was subscribed 4.98 times on Thursday and 1.32 times on its first day, led by non-institutional investors.
The Bain Capital-backed company has set a price band of Rs 960–1,008 per share for its IPO. At the upper end of the price band, the market value stands at Rs 19,060 crore.
BC Investments IV Ltd., an affiliate of US-based private equity major Bain Capital, will be among the selling shareholders in the OFS, with 72.34 lakh shares to offload. Kotak Mahindra Capital Co., Axis Capital Ltd., Jefferies India Pvt. and JPMorgan India Pvt. are the issue's book-running lead managers.
The minimum lot size for bidding will be 14 shares, with further bids to be made in multiples. The pharma major raised Rs 582 crore from anchor investors, ahead of its IPO.
Follow the steps mentioned here to check Emcure Pharma IPO allotment status.
Issue Details
Issue opens: July 3.
Issue closes: July 5.
Issue price: Rs 960–1,008 per share.
Fresh issue: Rs 800 crore.
Offer for sale: 1.14 crore equity shares.
Total issue size: Rs 1,952 crore.
Bid lot: 14 shares.
Listing: BSE and NSE.
Business
Emcure Pharma is engaged in developing, manufacturing and globally marketing a broad range of pharmaceutical products across several major therapeutic areas. The company has more than 350 brands, five research and development centres, and 14 manufacturing facilities across India, as per information on its website. It sells in over 70 countries with a strong presence in India, Europe and Canada.
The company is focused towards pharmaceutical products used in chronic therapeutic areas and has been granted 220 patents and has 30 pending patent applications in several countries. It had submitted 102 drug master files for APIs with the US Food and Drug Administration.
Subscription Status: Day 3
The IPO has been subscribed 67.87 times as of 7 p.m. on Friday.
Institutional investors: 195.83 times.
Non-institutional investors: 48.32 times.
Retail investors: 7.21 times.
Employee reserved: 8.81 times.
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