Emcure pharmaceutical IPO: should you apply for listing gains?

NiftyTrader • June 29, 2024

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Emcure Pharmaceuticals Limited’s (IPO) opens on July 3, 2024, and closes on July 5, 2024. The allotment for the Emcure Pharmaceuticals Limited IPO is anticipated to be completed on Monday, July 8, 2024. The IPO will be listed on the NSE and BSE, with a tentative listing date set for Wednesday, July 10, 2024.

The price band for the Emcure Pharmaceuticals Limited IPO is set at Rs 960 to Rs 1008 per share. The IPO is a book-built issue of Rs 1,952.03 crores, entirely a fresh issue of 0.79 crore shares.

Emcure Pharma IPO Details

IPO Date	July 3, 2024 to July 5, 2024
Listing Date	[.]
Face Value	Rs 10 per share
Price	Rs 960 to Rs 1008 per share
Lot Size	14 Shares
Total Issue Size	19,365,346 shares (aggregating up to Rs 1,952.03 Cr)
Fresh Issue	7,936,507 shares (aggregating up to Rs 800.00 Cr)
Offer for Sale	11,428,839 shares of Rs 10 (aggregating up to Rs 1,152.03 Cr
Employee Discount	Rs 90 per share
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Shareholding pre issue	180,852,116
Shareholding post issue	188,788,623

Emcure Pharma IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	14	Rs 14,112
Retail (Max)	14	196	Rs 197,568
S-HNI (Min)	15	210	Rs 211,680
S-HNI (Max)	70	980	Rs 987,840
B-HNI (Min)	71	994	Rs 1,001,952

Emcure Pharmaceuticals Limited IPO Objectives

The objectives of the Issue are:

General corporate purposes
Repayment and/ or prepayment of all or a portion of certain outstanding
borrowings availed by the company

About Emcure Pharmaceuticals Limited Company

Emcure Pharmaceuticals, founded in 1981, is an Indian company that develops, manufactures, and markets a variety of pharmaceutical products globally.

The company has 13 manufacturing facilities in India and employs 552 scientists across five research centers. In September 2023, Emcure ranked 13th in domestic sales and led in gynecology and HIV antiviral therapies.

Domestic sales accounted for over half of its revenue, with a growth rate of 10.80% from 2019 to 2023. The company supports a robust marketing and distribution network with over 5,000 field personnel and stock lists.

Emcure Pharmaceuticals Limited Financial Information

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
Revenue	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

Emcure Pharma IPO Timeline

Emcure Pharma IPO opens on July 3, 2024, and closes on July 5, 2024.

IPO Open Date	Wednesday, July 3, 2024
IPO Close Date	Friday, July 5, 2024
Basis of Allotment	Monday, July 8, 2024
Initiation of Refunds	Tuesday, July 9, 2024
Credit of Shares to Demat	Tuesday, July 9, 2024
Listing Date	Wednesday, July 10, 2024
Cut-off time for UPI mandate confirmation	5 PM on July 5, 2024

Conclusion

Emcure Pharmaceuticals Limited is set to launch its IPO from July 3 to July 5, 2024. With a price band of Rs 960 to Rs 1008 per share, the company aims to raise approximately Rs 1,952.03 crores through a book-built issue, consisting of both fresh issues and an offer for sale. The IPO is scheduled to be listed on both NSE and BSE, with a tentative listing date of July 10, 2024. Emcure Pharmaceuticals, established in 1981, is a leading Indian pharmaceutical company with significant market presence in gynecology and HIV antiviral therapies. The company’s revenue has shown consistent growth, though profit after tax has slightly declined in recent years. The funds from the IPO will be used for general corporate purposes and repayment of certain outstanding borrowings.