Emcure Pharmaceuticals was incorporated on April 16, 1981. The company is one of the leading Indian pharmaceutical companies, engaged in developing, manufacturing, and globally marketing a broad range of pharmaceutical products across several major therapeutic areas. It is a research and development-driven company with a differentiated product portfolio that includes orals, injectables, and biotherapeutics. This diversified portfolio has enabled it to reach a range of target markets across over 70 countries, with a strong presence in India, Europe, and Canada.
| Bidding Dates |
|---|
| 03 Jul 2024 - 05 Jul 2024 |
| Subscription |
|---|
| 67.87x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹13,440 | 1 | 14 | 14 | 19.4 M | ₹960 - ₹1008 | 73.67 % | ₹18590.7 M - ₹19520.3 M | RHP DOC |
Emcure Pharma IPO SUBSCRIPTION STATUS
05 Jul '24Emcure Pharma IPO overall subscription rate was 67.87 times the total available shares
Emcure Pharma IPO retail subscription rate was 7.21 times in the retail segment
Emcure Pharma IPO non-institutional investor subscription rate was 48.32 times in the non-institutional investor category
Emcure Pharma IPO Qualified Institutional Bidder subscription rate was 195.83 times the available shares for Qualified Institutional Bidder
Emcure Pharma IPO Employees subscription rate was 8.81 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
05 Jul 2024 (Day 3) | 7.21x | 48.32x | 195.83x | 8.81x |
04 Jul 2024 (Day 2) | 3.43x | 13.67x | 1x | 4.83x |
03 Jul 2024 (Day 1) | 1.39x | 2.71x | 0.07x | 2.25x |
Emcure Pharma FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY24 | 5,275.8 | 66,582.5 | 10,972.4 | 8,008.9 | 19.0% |
| FY23 | 5,618.5 | 59,858.1 | 7,468.5 | 3,447.6 | 20.2% |
| FY22 | 7,025.6 | 58,553.9 | 7,682.1 | 3,743.4 | 23.5% |
| FY21 | 4,185.9 | 50,334.7 | 7,044.4 | 5,712.8 | 19.4% |
Emcure Pharma IPO SUBSCRIPTION STATUS DETAILS
Emcure Pharma had 19.4 M shares on offer
Emcure Pharma IPO offer price was in the range ₹960 - ₹1008
Emcure Pharma IPO minimum Investment was ₹13440
Emcure Pharma IPO issue size was ₹ 18590.7 M - ₹ 19520.3 M
Emcure Pharma had a minimum lot size of 14 Shares per application
Emcure Pharma NUMBER OF SHARES ON OFFER
Emcure Pharma IPO IMPORTANT DATES
| Issue Open Date | 03 Jul 2024 |
| Issue close Date | 05 Jul 2024 |
| Allotment Date | 08 Jul 2024 |
| Refund Date | 09 Jul 2024 |
| Demat Account Credit Date | 09 Jul 2024 |
| Listing Date | 10 Jul 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Emcure Pharma Allotment Status | Exchange |
Emcure Pharma IPO subscription opened on 03 Jul 2024, and closed on 05 Jul 2024
IPO allotment for Emcure Pharma was finalized on Monday, 08 Jul 2024
IPO listing for Emcure Pharma was on NSE and BSE on Wednesday, 10 Jul 2024
Emcure Pharma IPO LISTING GAINS
| Issue Price (adjusted) | 1008.0 |
| Listing Open Price | 1325.0 |
| Listing Close Price | 1359.2 |
| Listing Gain% | 31.4% |
| Current Gain% | 96.3% |
Emcure Pharma Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Emcure Pharmaceuticals Ltd. | 1978.4 | 37409.3 | 37.1 | 1 | 3.9 | 18.7 | 9.6 | 9216.2 | 15.7 | 924.4 | 35.7 | 53.3 | 35.9 |
| Sun Pharmaceutical Industries Ltd. | 1945 | 466670.7 | 38.6 | 2.3 | 7.8 | 13.7 | 10.6 | 60433.8 | 10.8 | 11479.4 | 5 | 50.4 | 16.6 |
| Divi's Laboratories Ltd. | 8275 | 219675.3 | 75.1 | 2.8 | 19.6 | 15.3 | 12.8 | 11067 | 14 | 2568 | 17.2 | 110.2 | 26.8 |
| Torrent Pharmaceuticals Ltd. | 4924 | 187293.2 | 85.9 | 9.6 | 11.9 | 25.8 | 4.9 | 13886.2 | 20.3 | 2163.4 | 13.2 | 57.3 | 8.9 |
| Cipla Ltd. | 1463.8 | 118253.6 | 35.1 | -0.9 | 4.2 | 11.3 | 9.1 | 29044.6 | 2.2 | 3879.2 | -26.4 | 41.7 | -37.5 |
| Zydus Lifesciences Ltd. | 1114.2 | 112114.6 | 22.2 | 2.3 | 4.1 | 18.6 | 9.6 | 27657.9 | 17.6 | 5040 | 11.4 | 50.1 | 9.6 |
Emcure Pharma INFORMATION ON IPO ISSUE
About Emcure Pharma
Emcure Pharmaceuticals was incorporated on April 16, 1981. The company is one of the leading Indian pharmaceutical companies, engaged in developing, manufacturing, and globally marketing a broad range of pharmaceutical products across several major therapeutic areas. It is a research and development-driven company with a differentiated product portfolio that includes orals, injectables, and biotherapeutics. This diversified portfolio has enabled it to reach a range of target markets across over 70 countries, with a strong presence in India, Europe, and Canada.
Object of the Issue
- Repayment and/ or prepayment of all or a portion of certain outstanding borrowings availed by the company
- General corporate purposes
Emcure Pharma - PROMOTERS
| Name |
|---|
| Satish Ramanlal Mehta |
| Sunil Rajanikant Mehta |
Emcure Pharma Book Running Lead Manager
Kotak Mahindra Capital Company Limited
emcure.ipo@kotak.com
Axis Capital Limited
emcure.ipo@axiscap.in
JM Financial Limited
EMCURE_IPO@jpmorgan.com
Emcure Pharma Book Running Lead Managers
Jefferies India Private Limited
Emcure.IPO@jefferies.com
Emcure Pharma Registrar to the Offer
Link Intime India Private Limited
emcure.ipo@linkintime.co.in
Emcure Pharma Strengths
Well-placed
The company is focused on the domestic market. It has successfully grown its business to become the 13th largest pharmaceutical company, the 4th largest pharmaceutical company by market share, and the largest pharmaceutical company in the gynecology and HIV antiviral therapeutic areas
Brands building
The company has demonstrated strong capabilities and a proven track record in building brands. Eight of its brands were ranked among the 300 highest-selling brands in the Indian pharma market
Product Portfolio
The company's product portfolio in the international markets comprises a mix of specialty branded generics, injectables, and generic products. Further, sales of its iron, chiral, biotherapeutics, injectables, and photo-chemistry products are developed and manufactured in-house
Emcure Pharma Risks
outstanding legal proceedings
There are outstanding legal proceedings involving the company, its directors, promoters, subsidiaries, and group company, heritage. Failure to defend these proceedings successfully may have adverse effect on the business prospects
Intensely competitive industry
The pharmaceutical industry is intensely competitive and if the company cannot respond adequately to the increased competition, it will lose market share and its profits will decline, which will adversely affect the business
Dependent on certain therapeutic products
Certain therapeutic areas contribute to a more significant portion of the company's total revenue in India, and its business, prospects, results of operations and financial condition may be adversely affected if these products in these therapeutic areas do not perform as expected
IPO FAQs
This IPO consists of an offer for sale of up to Rs 1,152.0 crore, of 11,428,839 shares. It also consists of a fresh issue of Rs 800.0 crore.
The promoters of the company are Satish Ramanlal Mehta and Sunil Rajanikant Mehta.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 960.0 - 1008.0.
The IPO application opens on Jul 03, 2024 and closes on Jul 05, 2024.
The minimum lot size for the IPO is 14. The maximum lot size for the IPO is 196.
For all category investors, the minimum application amount for this IPO is Rs. 13,440.0, the maximum value for this IPO is Rs 197,568.0.
This IPO will be allotted on Jul 08, 2024.
The refund will be credited to your account on Jul 09, 2024.
The allotted shares will be credited to your demat on Jul 09, 2024.
Emcure Pharmaceuticals Ltd.’s shares listed on the stock exchanges on Jul 10, 2024.