Time: 2024-07-08
Emcure Pharmaceuticals Ltd , a Pune - based company , saw its Initial public offering ( IPO ) attract significant interest from investors . The IPO , which opened on July 3 , received bids for 1,80,40,960 shares against 1,37,03,538 shares on offer . The subscription status stood at 1.32 times , with the quota for non - institutional investors oversubscribed at 2.71 times and retail investors at 1.39 times . Qualified Institutional Buyers ( QIBs ) subscribed 7 % , while the employee portion was oversubscribed at 2.25 times.
At an upper price range of 1,008 per equity share , Emcure Pharmaceuticals raised 582 crores from 48 anchor investors on July 2 . The IPO , backed by Bain Capital , will close on July 5 , with a price band of 960 to 1,008 per share.
Analysts from Swastika Investmart Ltd and Anand Rathi Research have provided insights into Emcure Pharmaceuticals ' IPO . Swastika Investmart highlighted the company 's robust R&D infrastructure , diverse product range , and brand establishment , despite recent challenges in profitability . Anand Rathi Research , on the other hand , emphasized the company 's valuation and potential for growth , recommending a long - term perspective for investors.
The IPO comprises a fresh offering of 800 crores and an offer for sale by existing promoters and shareholders worth 1,151 crores . The total issue size at the top end of the price band is 1,952 crores . Selling shareholders include prominent names like Satish Ramanlal Mehta and Namita Vikas Thapar.
The book running lead managers for the IPO are Axis Capital Limited , J.P. Morgan India Private Limited , Jefferies India Private Limited , and Kotak Mahindra Capital Company Limited . The IPO GMP ( Grey Market Premium ) for Emcure Pharmaceuticals was +299 , indicating a significant premium in the grey market.
In addition to the Emcure Pharmaceuticals IPO , investors have the opportunity to subscribe to Sahaj Solar 's IPO , set to open on July 11 . The company plans to raise 52.56 crores through the SME offer , priced in the range of Rs 171 - 180 per share . Sahaj Solar , a solar solutions provider with experience in renewable power generation , aims to list its shares on the NSE SME platform . With no new mainboard public offers next week , the focus shifts to promising opportunities like Sahaj Solar 's IPO and continued interest in the primary market.
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