Emcure Pharma’s IPO witnessed strong buyers interest, with oversubscription rates of 67.87 times. Post-listing, shares rose 4.5% to Rs. 1384, reflecting confidence in the company’s future.
Emcure Pharmaceuticals’ strong market debut follows an exceptional response to its IPO, which was subscribed 67.87 times overall. The retail category saw a subscription rate of 7.36 times, while the Qualified Institutional Buyers (QIB) category experienced an astounding 191.24 times subscription. Additionally, the Non-Institutional Investors (NII) category was subscribed 49.32 times.
The issue ran between July 3 and July 5 comprised fresh equity issuance worth Rs 800 crore and an OFS of 1.14 crore shares by promoters and other shareholders. At the upper end of the price band, the company looked to raise Rs 1,952 crore.
Ahead of the launch of the issue, the pharma company mopped up Rs 582 crore from anchor investors including HDFC MF, ICICI Pru MF, SBI MF, Abu Dhabi Investment Authority, Goldman Sachs Asset Management, Nomura and HDFC Life among others.
Emcure Pharmaceuticals, headquartered in Pune, is among the leading Indian pharmaceutical companies, engaged in developing, manufacturing, and globally marketing a broad range of pharmaceutical products across several major therapeutic areas. It is a research and development-driven company with a differentiated product portfolio that includes orals, injectables, and biotherapeutics.
