Emcure Pharma IPO Opens Today: Emcure Pharma to open its IPO for bidding on July 03. The company backed by Bain Capital and promoted by Namita Thapar will collect Rs 1,952.03 crore from investors.
The IPO will have both fresh issues as well as an offer for sale. While, the offer for sale is the bigger part of the issue. Emcure Pharma will offer 7.9 million fresh shares for a value of Rs 800 crore and will collect Rs 1,152.03 crore by selling 11.4 million shares of promoters and other shareholders.
Price Band
The pharmaceutical company kept the IPO price band in a range of Rs 960 to Rs 1008 per equity share.
Allotment and Listing
Emcure Pharmaceuticals’ share allotment is likely to be finalised on July 08. While the listing is tentatively scheduled for July 10 on the mainboard segment of NSE and BSE.
Minimum Investment
A retail buyer needs to apply for a minimum of one lot, containing 14 shares, which is valued at Rs 14,112. For NIIs and QIBs, there are different lot sizes requiring different investments.
About Emcure Pharmaceuticals
Emcure Pharmaceuticals is engaged in developing, manufacturing, and globally marketing a broad range of pharmaceutical products across several major therapeutic areas. The company is a research and development-driven company with a differentiated product portfolio including orals, injectables and biotherapeutics. The company is focused on pharmaceutical products used in chronic (including sub-chronic) therapeutic areas.
Employee Reservation
The company has kept aside a total of 108,900 equity shares for the employees at a discount of Rs 90 per share to the issue price.
Expert’s take
“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 has scope for business improvement on the back of industry tailwinds and business scalability. Thus, we recommend a “Subscribe for long term” rating to the IPO,” said Anand Rathi Research in an IPO note.
BRLMs and Registrar
Kotak Mahindra Capital Company, Axis Capital, J.P. Morgan India, and Jefferies India are working as the lead books-running managers of the IPO, while Link Intime India is the registrar for the issue.
