Emcure Pharma IPO Stuns Markets with 67.86x Oversubscription on Final Bidding Day

Stock market investors have shown strong interest in the IPO (Initial Public Offering) of Emcure Pharmaceuticals Limited. On the third and final day of bidding, the IPO was oversubscribed by 67.86 times.

High Demand Across All Investor Categories

According to data from the Bombay Stock Exchange (BSE), the IPO attracted a lot of attention from all investor categories:

• Qualified Institutional Buyers (QIBs): Subscribed 195.83 times.
• Non-Institutional Investors (NIIs): Subscribed 48.32 times.
• Retail Individual Investors: Subscribed 7.21 times.
• Employees Reserved Segment: Subscribed 8.81 times.

Details of the Emcure Pharmaceuticals IPO

Emcure Pharmaceuticals, a pharmaceutical company from Pune, develops and markets medicines in various therapeutic areas globally. The IPO was open for subscription until Friday, 5th July, with a price range of ₹960 to ₹1,008 per share.

Before the IPO opened to the public, Emcure raised ₹583 crore from anchor investors, including Abu Dhabi Investment Authority, Goldman Sachs Asset Management, and HDFC Life Insurance Company.

Allocation and Book Runners

• Qualified Institutional Buyers (QIBs): 50% of the issue.
• Retail Investors: 35% of the issue.
• Non-Institutional Investors (NIIs): 15% of the issue.

A portion of up to 1,08,900 equity shares was set aside for employees. The IPO was managed by Axis Capital Limited, J.P. Morgan India Private Limited, Jefferies India Private Limited, and Kotak Mahindra Capital Company Limited.

Grey Market Premium (GMP)

As of 5th July, Emcure Pharma’s grey market premium (GMP) is +₹350. This suggests investors are willing to pay ₹350 above the issue price, indicating strong demand.

The expected listing price is ₹1,358 per share, which is a 34.72% gain over the upper end of the issue price band (₹1,008 per share).