Emcure Pharma announces price band for Rs 1,952-crore IPO at Rs 960-1,008/share. Check GMP, other details

Emcure Pharmaceuticals has set the price band for its upcoming initial public offering (IPO) at Rs 960 to Rs 1,008 per equity share. The subscription for the IPO will commence on Wednesday, July 3, and conclude on Friday, July 5.

The floor price and cap price of the issue are set at 96 times and 100.80 times the face value of the equity shares, respectively.

Emcure Pharmaceuticals IPO anchor allotment

The bids/offers for anchor investors will open on Tuesday, July 2nd.

About Emcure Pharmaceuticals IPO

The IPO comprises fresh issuance of equity shares worth Rs 800 crore and an Offer For Sale (OFS) of 1.14 crore equity shares to the tune of Rs 1,152 crore, at the upper end of the price band, by promoters and existing shareholders. This aggregates the total public size to Rs 1,952 crore.

11 existing shareholders will offload their stake in the IPO. The selling shareholders in the OFS include promoters Satish Ramanlal Mehta, Sunil Rajanikant Mehta, Namita Vikas Thapar, and Samit Satish Mehta.

Apart from this, in the OFS, shares will be offloaded by Pushpa Rajnikant Mehta, Bhavana Satish Mehta, Kamini Sunil Mehta, Arunkumar Purshotamlal Khanna, Berjis Minoo Desai, Sonali Sanjay Mehta and to BC Investments IV (an affiliate of US-based private equity major Bain Capital).

Currently, Satish Mehta holds a 41.85% stake in the company and BC Investments owns 13.07%.

Emcure Pharmaceuticals IPO GMP

Ahead of the issue, the shares were commanding a premium of Rs 300 in the unlisted market.

Emcure Pharmaceuticals IPO bid details

Bids can be made for a minimum of 14 shares and in multiples thereafter. The company is offering a discount of Rs 90 to the employees of the company.

About Emcure Pharmaceuticals

Emcure Pharmaceuticals Limited was incorporated in 1981 as an Indian pharmaceutical company. The company specializes in developing, manufacturing, and globally marketing a diverse range of pharmaceutical products across multiple major therapeutic areas. Emcure is research and development-driven, boasting a differentiated product portfolio that encompasses orals, injectables, and biotherapeutics. Its market presence spans over 70 countries, with significant operations in India, Europe, and Canada.

Emcure Pharmaceuticals IPO financials

In the six months ended September 30, 2023, and FY2023, sales in India contributed 50.84% and 53.16% of the company's total revenue. The company's domestic sales grew at a CAGR of 10.80% between September 2019 and September 2023, outperforming the Indian pharma market.

Emcure Pharmaceuticals IPO proceeds

The net proceeds from the fresh issue will be utilised for repayment and/or prepayment of all or a portion of certain outstanding borrowings availed by the company. This amount will be around Rs 600 crore, according to the company's Red Herring Prospectus (RHP). A part of the IPO proceeds will also be used for general corporate purposes.

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