Emcure Pharmaceuticals IPO Allotment and Listing Details: Key Information for Competitive Exam Preparation

Authored by: Kumar Gaurav
Updated: Jul 5, 2024 | 07:39 PM IST
Photo: ET Now Digital

Historical Context: Initial Public Offerings (IPOs) have been a significant method for companies to raise capital from the public. The process involves offering shares to investors, which can lead to substantial financial growth and market presence. Emcure Pharmaceuticals, a prominent player in the pharmaceutical industry, has followed this path to expand its financial base and operational capabilities.

Emcure Pharmaceuticals IPO Allotment Date and Time: The IPO of Emcure Pharmaceuticals attracted substantial interest from investors. The subscription window was open from Wednesday, July 3, 2024, to Friday, July 5, 2024. The allotment of shares is scheduled for Monday, July 8, 2024. Investors can check their allotment status on the BSE website or the official website of the IPO’s registrar.

Emcure Pharmaceuticals IPO Shares Listing Date: The shares are expected to debut on the stock exchanges on Wednesday, July 10, 2024.

Final Subscription Status: The IPO saw a high subscription rate, being subscribed 67.87 times overall. The breakdown is as follows:

• Qualified Institutional Buyers (QIB): 191.24 times
• Non-Institutional Investors (NII): 49.32 times
• Retail Investors: 7.36 times

Latest Grey Market Premium (GMP) Price: The shares of Emcure Pharmaceuticals are commanding a strong premium in the grey market, indicating high investor interest. The GMP stands at 36.21%, translating to a premium of Rs 365 at the upper end of the IPO price.

IPO Details:

• Public Issue: Fresh issue of 7,936,507 equity shares aggregating up to Rs 800 crore and an offer for sale by promoters of 11,428,839 shares aggregating up to Rs 1,152.03 crore.
• Lot Size: 14 shares
• Price Band: Rs 960 - Rs 1008 per share
• Minimum Investment: Rs 14,112 for retail investors

Use of Proceeds: The funds raised will be used for:

1. Repayment and/or prepayment of certain outstanding borrowings.
2. General corporate purposes.

Summary:

• Subscription Window: July 3-5, 2024
• Allotment Date: July 8, 2024
• Listing Date: July 10, 2024
• Overall Subscription: 67.87 times
• GMP Premium: 36.21% (Rs 365)
• Public Issue Size: Rs 800 crore (fresh issue) + Rs 1,152.03 crore (offer for sale)
• Price Band: Rs 960 - Rs 1008 per share
• Minimum Investment: Rs 14,112

Disclaimer: This article is for informational purposes only and should not be considered as investment advice. Readers are advised to consult their financial advisors before making any investment decisions.