Shark Tank’s Namita Thapar Poised for ₹127 Crore Gain as Emcure Pharmaceuticals IPO Kicks Off Tomorrow

The Emcure Pharmaceuticals IPO, starting tomorrow, 3rd July 2024, is set to bring in around ₹127.87 crore for Namita Thapar, a popular investor from Shark Tank India and part of the Emcure promoter group.

Namita Thapar, who bought Emcure shares at an average price of ₹3.44 each, plans to sell about 12.68 lakh shares through the offer for sale (OFS) in the IPO. At the top price band of ₹1,008 per share, this sale will fetch her nearly ₹127 crore. As of March 2024, Thapar owned about 63 lakh shares, or 3.5% of the company.

The IPO, which will close on Friday, 5th July, has set a price range of ₹960 to ₹1,008 per share.

Thapar, a Whole-Time Director at Emcure, has been reappointed to the board for another five years, starting from 28th July 2024, following board and shareholder votes on 27th May and 5th June 2024, respectively.

Other promoters selling shares in the OFS include Satish Ramanlal Mehta, Sunil Rajanikant Mehta, and Samit Satish Mehta. Additional shareholders selling shares are BC Investments IV, Pushpa Rajnikant Mehta, Bhavana Satish Mehta, Kamini Sunil Mehta, Arunkumar Purshotamlal Khanna, Berjis Minoo Desai, and Sonali Sanjay Mehta.

Emcure Pharma IPO Details

The IPO consists of a fresh issue worth ₹800 crore and an offer for sale valued at ₹1,151 crore by current promoters and shareholders, totalling ₹1,952 crore at the top end of the price range.

The proceeds will be used to repay or prepay part of the company’s existing loans, among other corporate purposes.

The IPO is managed by Axis Capital Limited, J.P. Morgan India Private Limited, Jefferies India Private Limited, and Kotak Mahindra Capital Company Limited. Link Intime India Private Ltd. is the registrar.

Emcure Pharmaceuticals is an Indian company that develops, manufactures, and sells a wide range of pharmaceutical products in various therapeutic areas worldwide. Known for its strong research and development (R&D), the company has a unique product portfolio including injectables, biotherapeutics, and orals, and serves over 70 countries, with significant presence in Europe, Canada, and India.

According to the Red Herring Prospectus (RHP), Emcure’s listed peers are Torrent Pharmaceuticals Ltd, Mankind Pharma, Abbott India Ltd, J.B. Chemicals & Pharmaceuticals Ltd, Dr. Reddy’s Laboratories Ltd, Cipla Ltd, Alkem Laboratories Ltd, and Torrent Pharmaceuticals Ltd.

Emcure Pharmaceuticals IPO GMP Today

The grey market premium (GMP) for Emcure Pharmaceuticals today is +₹290, meaning the shares are expected to list at ₹1,298 each, 28.77% higher than the IPO price of ₹1,008. This premium shows that investors are willing to pay more than the issue price for Emcure shares.