Emcure Pharmaceuticals IPO: Check subscription on Day 1, GMP and other details
IPO) of Emcure Pharmaceuticals, which opened earlier today, was booked 66% so far, driven by hefty demand from non-institutional investors.
The issue, which closes on July 5, was subscribed 83% in the retail category and 1.07 times in the NII portion. Meanwhile, there were no bids yet in the QIB category.
Ahead of the issue opening, the company raised Rs 582 crore from anchor investors. marquee investors who participated in the anchor round include HDFC MF, ICICI Pru MF, SBI MF, Abu Dhabi Investment Authority, Goldman Sachs Asset Management, Nomura, HDFC Life among others.
The IPO comprises a fresh issuance of equity shares worth Rs 800 crore and an OFS of 1.14 crore equity shares by promoters and existing shareholders. Shark Tank fame Namita Thapar will make around Rs 127 crore through the stake sale under the OFS.
Emcure Pharma IPO GMP
In the unlisted market, the company's shares are trading with a premium of Rs 295, marginally higher than the previous day.
Emcure Pharma IPO review
Emcure Pharmaceuticals is engaged in developing, manufacturing and globally marketing a broad range of pharmaceutical products across several major therapeutic areas.
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Analysts believe the company has a scope of business improvement on the back of industry tailwinds and business scalability.
«On the valuation front, at an upper band, the company is fairly priced at a P/E of 36x post issue of equity shares on FY24 earning basis. We believe that the company
