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Emcure Pharmaceuticals IPO is a book build issue of ₹1,952.03 crores. The issue is a combination of fresh issue of 0.79 crore shares aggregating to ₹800.58 crores and offer for sale of 1.14 crore shares aggregating to ₹1,151.45 crores.
Emcure Pharmaceuticals IPO bidding started from Jul 3, 2024 and ended on Jul 5, 2024. The allotment for Emcure Pharmaceuticals IPO was finalized on Jul 8, 2024. The shares got listed on BSE, NSE on Jul 10, 2024.
Emcure Pharmaceuticals IPO price band is set at ₹1008.00 per share . The lot size for an application is 14. The minimum amount of investment required by an retail is ₹13,440 (14 shares). The lot size investment for sNII is 15 lots (210 shares), amounting to ₹2,11,680, and for bNII, it is 71 lots (994 shares), amounting to ₹10,01,952.
The issue includes a reservation of up to 1,08,900 shares for employees offered at a discount of ₹90.00 to the issue price.
Kotak Mahindra Capital Co.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Emcure Pharmaceuticals IPO RHP for detailed Information.
| IPO Date | July 3, 2024 to July 5, 2024 |
| Listing Date | July 10, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹960 to ₹1008 per share |
| Issue Price Final | ₹1008 per share |
| Lot Size | 14 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,93,75,070 shares (aggregating up to ₹1,952.03 Cr) |
| Fresh Issue | 79,46,231 shares (aggregating up to ₹800.58 Cr) |
| Offer for Sale | 1,14,28,839 shares of ₹10 (aggregating up to ₹1,151.45 Cr) |
| Employee Discount | ₹90.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 18,08,52,116 shares |
| Share Holding Post Issue | 18,87,88,623 shares |
Emcure Pharma IPO offers total 1,93,75,070 shares. Out of which 96,33,084 (49.72%) allocated to QIB, 38,53,234 (19.89%) allocated to QIB, 28,89,926 (14.92%) allocated to NII, 67,43,160 (34.80%) allocated to RII and 57,79,850 (29.83%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 96,33,084 (49.72%) | NA |
| − Anchor Investor Shares Offered | 57,79,850 (29.83%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 38,53,234 (19.89%) | NA |
| NII (HNI) Shares Offered | 28,89,926 (14.92%) | NA |
| − bNII > ₹10L | 19,26,618 (9.94%) | 9,174 |
| − sNII < ₹10L | 9,63,308 (4.97%) | 4,587 |
| Retail Shares Offered | 67,43,160 (34.80%) | 4,81,654 |
| Employee Shares Offered | 1,08,900 (0.56%) | NA |
| Total Shares Offered | 1,93,75,070 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Emcure Pharmaceuticals IPO raises ₹582.61 crore from anchor investors. Emcure Pharmaceuticals IPO Anchor bid date is July 2, 2024. Emcure Pharmaceuticals IPO Anchor Investors list
| Bid Date | July 2, 2024 |
| Shares Offered | 57,79,850 |
| Anchor Portion Size (In Cr.) | 582.61 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 7, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 6, 2024 |
Emcure Pharmaceuticals IPO opens on July 3, 2024, and closes on July 5, 2024.
| IPO Open Date | Wed, Jul 3, 2024 |
| IPO Close Date | Fri, Jul 5, 2024 |
| Tentative Allotment | Mon, Jul 8, 2024 |
| Initiation of Refunds | Tue, Jul 9, 2024 |
| Credit of Shares to Demat | Tue, Jul 9, 2024 |
| Tentative Listing Date | Wed, Jul 10, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Jul 5, 2024 |
Investors can bid for a minimum of 14 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 14 | ₹14,112 |
| Retail (Max) | 14 | 196 | ₹1,97,568 |
| S-HNI (Min) | 15 | 210 | ₹2,11,680 |
| S-HNI (Max) | 70 | 980 | ₹9,87,840 |
| B-HNI (Min) | 71 | 994 | ₹10,01,952 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 1981, Emcure Pharmaceuticals Limited, an Indian pharmaceutical company, develops, manufactures, and globally markets a wide range of pharmaceutical products across several major therapeutic areas.
The company has been ranked 13th in domestic sales among pharmaceutical companies in India for MAT September 2023 and 4th in market share in its covered markets for the same period. Additionally, it is the leading pharmaceutical company in gynaecology and HIV antiviral therapeutic areas for the MAT September 2023.
In the six months ended September 30, 2023, and the Financial Year 2023, sales in India contributed 50.84% and 53.16% of the company's total revenue, respectively. The company's Domestic sales grew at a CAGR of 10.80% between September 2019 and September 2023, outperforming the Indian pharmaceutical market.
As of September 30, 2023, Emcure Pharma employed 552 scientists and operated five research facilities in India. They filed over 1,800 documents globally, including 204 in the EU and 133 in Canada. They had 201 granted patents, 33 pending patent applications, and submitted 102 drug master files.
Emcure Pharmaceuticals has 13 manufacturing facilities in India. These facilities can produce various pharmaceutical and biopharmaceutical products, including pills, liquids, injectables, and complex ingredients such as chiral molecules, iron molecules, and cytotoxic substances.
As of September 30, 2023, the company's marketing and distribution network in India was supported by over 5,000 field personnel who regularly interacted with healthcare providers. The distribution network included over 5,000 stockists, served by 37 carry-and-forward agents.
Emcure Pharmaceuticals Limited's revenue increased by 11.33% and profit after tax (PAT) dropped by -6.1% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 7,806.16 | 6,672.53 | 6,063.47 |
| Total Income | 6,715.24 | 6,031.72 | 5,918.86 |
| Profit After Tax | 527.58 | 561.85 | 702.56 |
| Net Worth | 2,952.28 | 2,501.13 | 1,987.55 |
| Reserves and Surplus | 2,722.40 | 2,293.77 | 1,791.03 |
| Total Borrowing | 2,091.94 | 2,202.42 | 2,102.19 |
| Amount in ₹ Crore | |||
The market capitalization of Emcure Pharmaceuticals IPO is ₹19029.89 Cr.
| KPI | Values |
|---|---|
| ROE | 16.90% |
| ROCE | 19.37% |
| Debt/Equity | 0.67 |
| RoNW | 16.87% |
| Price to Book Value | 6.18 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 29.17 | 27.95 |
| P/E (x) | 34.55 | 36.07 |
[Dilip Davda] The company is one of the leading pharma company having niche products and serving global markets. It marked growth in its top lines, but bottom line posted declining trends due to higher interest and depreciation costs. Based on FY24 earnings, the issue appears fully priced. Reduction in debt post IPO will improved its bottom line commensurately. Investors may park funds for the medium to longer term. Read detail review...
| Listing Date | July 10, 2024 |
| BSE Script Code | 544210 |
| NSE Symbol | EMCURE |
| ISIN | INE168P01015 |
| Final Issue Price | ₹1008 per share |
| BSE Listing Group | B |
Emcure Pharmaceuticals Ltd.
Plot No. P-1 and P-2,
IT-BT Park, Phase II, M.I.D.C.,
Hinjawadi, Pune -411 057
Pune, Maharashtra
Phone: +91 20 3507 0033
Email: investors@emcure.co.in
Website: https://www.emcure.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: emcure.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Emcure Pharmaceuticals IPO is a main-board IPO of 1,93,75,070 equity shares of the face value of ₹10 aggregating up to ₹1,952.03 Crores. The issue is priced at ₹1008 per share. The minimum order quantity is 14.
The IPO opens on July 3, 2024, and closes on July 5, 2024.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Emcure Pharmaceuticals IPO using UPI as a payment gateway. Zerodha customers can apply in Emcure Pharmaceuticals IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Emcure Pharmaceuticals IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Emcure Pharmaceuticals IPO opens on July 3, 2024 and closes on July 5, 2024.
Emcure Pharmaceuticals IPO lot size is 14, and the minimum amount required for application is ₹14,112.
You can apply in Emcure Pharmaceuticals IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Emcure Pharmaceuticals IPO will be done on Monday, July 8, 2024, and the allotted shares will be credited to your demat account by Tuesday, July 9, 2024. Check the Emcure Pharmaceuticals IPO allotment status.
The Emcure Pharmaceuticals IPO listing date is on Wednesday, July 10, 2024.
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