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- By Aditya Pratap Singh
- Wed, 10 Jul 2024 11:10 AM (IST)
- Source:JND
Emcure Pharmaceuticals IPO listing: Emcure Pharmaceuticals' shares made a strong debut on the equity market on Wednesday i.e. July 10. The Emcure Pharma Shares started to trade at Rs 1,325.05 per share, a 31.5 percent premium over the upper band of IPO's price range, which was Rs 1,008. The stellar listing of shares comes after the initial public offering (IPO) received a lot of interest from investors.
Emcure's IPO, which was open for subscription between July 3 to July 5, was a Rs 1,952.03 crore book-based issue. The quota reserved for QIB received 92.94 times the subscription, while non-institutional investors acquired 42.57 times the reserved quota. The shares reserved for Emcure Pharmaceuticals employees had got a 7.9 times bid against their allocated stake. while retail investors section subscribed 6.33 times.
The IPO includes a fresh issue of Rs 0.79 crore shares, and an offer for sale of Rs 1.14 equity shares, aggregating Rs 1,152.03 crore. The company has set the price band for the IPO between Rs 960 and Rs 1,008 per share. The allotment of shares was completed on July 8.
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Emcure Pharmaceuticals, headquartered in India, specializes in developing, manufacturing, and globally marketing pharmaceutical products in various therapeutic areas. Emcure's reach extends to more than 70 countries around the world with a product portfolio that includes oral medicines, injectables, and biotherapeutics.
The company operates 13 manufacturing facilities across India and produces a range of dosage forms, including oral solids, oral liquids, and injectables, both liposomal and lyophilized. The company's facilities are also equipped to manufacture biotherapeutics and complex active pharmaceutical ingredients (APIs) such as chiral molecules, iron particles, and cytotoxic products.