Namita Thapar-backed Emcure Pharma IPO opens for subscription. Should you bid?
IPO) of Emcure Pharmaceuticals will open for subscription today. 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. Investors who are giving up their stakes under the OFS include promoters Namita Thapar, Satish Mehta and investor BC Investments IV Ltd, an affiliate of US-based private equity major Bain Capital.
Shark Tank fame Namita Thapar will make around Rs 127 crore through the stake sale under the OFS.
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.
Analysts believe the company has a scope of business improvement on the back of industry tailwinds and business scalability.
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«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 Thus, we recommend an SUBSCRIBE – long term rating to the IPO,» said Anand Rathi.
Emcure Pharma IPO price band
The IPO is priced in the range of Rs 960-1008 per
