Today is the final day to bid for the Emcure Pharmaceuticals IPO, and it has received strong interest from investors. By the second day, the IPO was subscribed 4.98 times according to BSE data. Here’s the breakdown:
- Qualified Institutional Buyers (QIBs): 1 time
- Non-institutional Investors: 13.67 times
- Retail Investors: 3.43 times
- Employee Category: 4.83 times
Company Background: Pune-based Emcure Pharmaceuticals is engaged in research, development, manufacturing, and selling pharmaceutical products globally in various therapeutic areas. The share price range for the IPO is ₹960 to ₹1,008, and the offer ends on July 5.
Brokerage Reviews:
- Emcure Pharmaceuticals: The company has a strong R&D focus, global reach, leadership in the Indian market, and responsible financial management. With a P/E ratio of 36.6x, the IPO is competitively valued. Recommended for long-term investment.
- Master Capital Services: The firm aims to reduce and eventually eliminate its long-term debt, focusing on key therapeutic areas like gynecology. The IPO is fairly valued compared to listed competitors. Long-term investment is advised.
IPO Details:
- Fresh Issue: ₹800 crore
- Offer for Sale (OFS): ₹1,151 crore
- Total Issue Size: ₹1,952 crore at the top price band
Promoters and shareholders selling in the OFS include:
- Satish Ramanlal Mehta
- Sunil Rajanikant Mehta
- Namita Vikas Thapar
- Samit Satish Mehta
- Others
Managers and Registrar:
- Lead Managers: Axis Capital Limited, J.P. Morgan India Private Limited, Jefferies India Private Limited, Kotak Mahindra Capital Company Limited
- Registrar: Link Intime India Private Ltd.
Grey Market Premium (GMP): Today’s GMP for Emcure Pharma is +₹335, indicating that shares are trading at a premium of ₹335 in the grey market. Considering the upper IPO price band, the expected listing price is ₹1,343, which is 33.23% higher than the IPO price of ₹1,008.
Conclusion: Investors are showing strong interest, and the company is well-positioned for growth. With a solid GMP and positive brokerage reviews, subscribing to Emcure Pharmaceuticals IPO appears to be a good opportunity for long-term gains.
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