Emcure Pharma IPO allotment: Check application status, latest GMP and listing date

Emcure Pharmaceuticals is scheduled to finalise the basis of allotment of its shares on Monday, July 08. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either on Monday or by Tuesday, July 9. The drugmaker had received a robust response from the investors.
 

The IPO of Emcure Pharma was open for bidding July 03 and July 05. The Pune-based company had offered its shares in the fixed price band of Rs 960-1,008 per share with a lot size of 14 shares. The company raised a little more than Rs 1,952.03 crore via its primary offering, which included a fresh share sale of Rs 800 crore and an offer-for-sale (OFS) of up to 79,36,507 equity shares.
 

The issue was overall subscribed a stellar 67.87 times. The quota for qualified institutional bidders (QIBs) was booked a whopping 195.83 times The quota for non-institutional investors was subscribed 48.32 times. The portions reserved for retail investors and employees saw bidding for 7.21 times and 8.81 times, respectively during the three-day bidding process.
 

Grey market premium (GMP) of Emcure Pharma has surged sharply following the closure of the bidding process. Last heard, the company was commanding a premium of Rs 390-400 per share, suggesting a listing pop of around 38-40 per cent for the investors. However, it was around Rs 330 apiece, when the issue closed for bidding.
 

Emcure Pharma, incorporated in 1981, is a homegrown pharmaceutical company which develops, manufactures, and globally markets a wide range of pharmaceutical products across several major therapeutic areas. The company has 13 manufacturing facilities in across pan India.
 

Brokerage firms were mostly positive on the issue suggesting investors to subscribe to it on the back of strong business model, long experience of management, robust market share, plans to reduce debt, reasonable price and positive growth outlook in India and global markets. However, quality risks, regulatory concerns and supply chain disruptions are the key risks for the issue.
 

Axis Capital, Kotak Mahindra Capital, JP Morgan India and Jefferies India are the book running lead managers of the Emcure Pharma IPO, while Link Intime India is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE with Wednesday, July 10 as the tentative date of listing.
 

Investors, who had bid for the issue of Emcure Pharmaceuticals , can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Emcure Pharmaceuticals Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit submit
 

Investors can also check the allotment status on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.
 

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.
 

1) Go to the web portal of Link Intime Limited

2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.
 

 

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.