Emcure Pharma, 43-Years Old Drugmaker Enters Dalal Street with 31% Premium

Kotak Mahindra Capital Company Ltd, Axis Capital Ltd, J.P Morgan India Private Ltd, and Jefferies India Private ltd were the lead book running managers of the IPO
Emcure Pharma, 43-Years Old Drugmaker Enters Dalal Street with 31% Premium

Emcure Pharmaceuticals, a Pune-based drugmaker, entered the Dalal Street on July 10. The drugmaker listed its shares at issue price of Rs 1,008 on a 31.5 per cent premium making the listed price of shares Rs 1,325.05.

The pharmaceutical company's shares were open for subscription from July 3 to July 5, which included a combination of fresh issue 0.79 crore shares totaling around Rs 800.00 crores alongside an offer for sale of 1.14 crore shares totaling around Rs 1,152.03 crores. The listing of shares grabbed the attention of investors, making it a successful IPO debut.

Qualified institutional buyers were at the forefront of bidding and subscribed 92.94 times their allotted quota. On the other hand Non-Institutional investors took 42.57 times.

The employees of the drugmaker placed bids of 7.9 times which were allotted to them and the retail investors took 6.33 times.

Kotak Mahindra Capital Company Ltd, Axis Capital Ltd, J.P Morgan India Private Ltd, and Jefferies India Private ltd were the lead book running managers of the IPO.

Emcure Pharmaceuticals founded in 1981 by Satish Mehta has come a long way. Initially it started out as manufacturing drugs for multinational pharma on contractual basis. Mehta finished his PG diploma from IIM-A and his passion drove him to the path of entrepreneurial journey of starting his drug manufacturing venture.

The company today has expanded across India and it has 13 manufacturing units. It globally market a variety of dosage. The drugmaker does research and develops its own dosage with a product ranging from orals, injectables and biotherapeutics. The company has a market base in around 70 countries.

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