Emcure Pharmaceuticals share price makes a strong debut, stock opens with 31.5% premium at ₹1,325.05 apiece on NSE

  • Emcure Pharmaceuticals share price saw strong debut with stock opening at 1,325.05, 31.45% higher than issue price. Grey market premium at +300 indicated investors willing to pay more. IPO listing price estimated at 1,308 per share, 29.76% higher than issue price of 1,008.

Dhanya Nagasundaram
First Published10 Jul 2024, 10:00 AM IST
Emcure Pharmaceuticals share price lists on the bourses today.
Emcure Pharmaceuticals share price lists on the bourses today. (https://www.emcure.com/)

Emcure Pharmaceuticals share price made a strong debut on the bourses today. On NSE and BSE, Emcure Pharmaceuticals share price opened at 1,325.05 per share, 31.45% higher than the issue price of 1,008.

Market experts anticipated Emcure Pharmaceuticals share price to open in the range of 1,370 to 1,390 apiece.

All sections of the Emcure Pharma IPO were oversubscribed on the third day of the bidding process, with non-institutional investors leading the way. According to BSE data, Emcure Pharmaceuticals IPO subscription status was 67.87 times.

The retail investors component was booked 7.21 times, while the non-institutional investors received a subscription 48.32 times. The employee component has 8.81 times as many subscriptions as the qualified institutional buyer (QIB), with 195.83 subscriptions.

Emcure Pharmaceuticals, a Pune-based business, conducts research, develops, produces, and markets pharmaceutical products worldwide across many therapeutic areas. The shares, which range in price from 960 to 1,008, were part of the offering that ended on July 5.

Also Read | Emcure Pharma IPO listing date today.Here’s what GMP, experts say on share debut
Emcure Pharmaceuticals IPO details

Emcure Pharmaceuticals IPO details

The IPO consists of an offer by existing promoters and shareholders to sell 1,151 crore as well as a fresh offering of 800 crore. At the upper price point in the pricing range, the issue size is worth 1,952 crore.

The promoters Satish Ramanlal Mehta, Sunil Rajanikant Mehta, Namita Vikas Thapar, and Samit Satish Mehta are among the selling shareholders in the OFS.

In addition, BC Investments IV, Pushpa Rajnikant Mehta, Bhavana Satish Mehta, Kamini Sunil Mehta, Arunkumar Purshotamlal Khanna, Berjis Minoo Desai, and Sonali Sanjay Mehta will sell shares in the OFS.

The company intends to use the net proceeds to finance the following goals: general corporate objectives; repayment and/or payback of all or a portion of certain outstanding borrowings obtained by the organisation.

For the Emcure Pharma IPO, Axis Capital Limited, J.P. Morgan India Private Limited, Jefferies India Private Limited, and Kotak Mahindra Capital Company Limited are the book running lead managers. Link Intime India Private Ltd. is the offering's registrar.

Also Read | Emcure Pharmaceuticals IPO listing tomorrow: Here’s what GMP hints

Emcure Pharmaceuticals IPO GMP today

Emcure Pharma IPO GMP today is +300 . This indicates Emcure Pharmaceuticals share price were trading at a premium of 300 in the grey market, according to investorgain.com.

Emcure Pharma's estimated IPO listing price was given as 1,308 per share, which is 29.76% more than the IPO price of 1,008 after taking into account the top end of the IPO pricing band and the existing premium on the grey market.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read | Emcure Pharma IPO last bidding date today. Check GMP, key dates. Apply or not?

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

 

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First Published:10 Jul 2024, 10:00 AM IST
HomeMarketsIPOEmcure Pharmaceuticals share price makes a strong debut, stock opens with 31.5% premium at ₹1,325.05 apiece on NSE

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