Emcure Pharmaceuticals IPO opened for bidding on July 3, 2024, and will close on July 5, 2024. The price range is set at ₹960 to ₹1008 per share. On the first day, the IPO was already subscribed, and the grey market is showing strong interest.
GMP (Grey Market Premium) Today:
The GMP for Emcure Pharmaceuticals is ₹333, up from ₹295 the previous day. This increase is due to positive investor response and a bullish trend in the market. With the Nifty 50 index hitting a new high, further increases in the GMP are expected.
Subscription Status:
After the first day, the IPO was subscribed 1.32 times overall:
- Retail segment: 1.39 times
- NII (Non-Institutional Investors): 2.71 times
- QIB (Qualified Institutional Buyers): 0.07 times
Expert Reviews:
Analysts recommend subscribing to the IPO for several reasons:
- The issue is reasonably priced at a P/E of 36.13x, compared to the industry average of 40x.
- Emcure has a strong focus on high-growth therapeutic areas, an innovative product portfolio, successful global expansion, and solid R&D.
- Analysts from Mehta Equities, Anand Rathi, and other leading brokers have given a ‘subscribe’ recommendation for long-term investment.
IPO Details:
- Allotment Date: Likely on July 6, 2024, or July 8, 2024, if delayed.
- Listing Date: Expected on July 10, 2024, on BSE and NSE.
Apply or Not?
Given the strong market response, positive grey market premium, and expert recommendations, investing in Emcure Pharmaceuticals IPO is suggested for long-term gains.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
