Namita Thapar's Emcure Pharma IPO to open on July 3: Check price band, other details

The initial public offering (IPO) on Namita Thapar-backed Emcure Pharma opens for bidding on Wednesday, July 3. The company is offering its shares in the range of Rs 960-1,008 apiece. Investors can apply for a minimum of 14 equity shares and its multiples thereafter until Friday, July 5.
 

Emcure Pharmaceuticals, Incorporated in 1981, is an Indian pharmaceutical company which develops, manufactures, and globally markets a wide range of pharmaceutical products across several major therapeutic areas. Emcure Pharmaceuticals has 13 manufacturing facilities in India.
 

The primary stake sale of Emcure Pharma consists of a fresh share sale of Rs 800 crore and an offer-for-sale (OFS) of 1,14,28,839 equity shares by its promoters and existing shareholders. At the upper end of the price band, the company is looking to raise a total of Rs 1,951.04 crore via its IPO.
 

The net proceeds from the issue shall be utilized towards repayment and/or prepayment of all or a portion of certain outstanding borrowings availed by the company; and general corporate purposes. Proceeds from the OFS shall go to the selling shareholders. Anchor book for the issue opens on Tuesday, July 02.
 

Emcure Pharma has been ranked 13th in domestic sales among pharmaceutical companies in India for MAT September 2023 and fourth in market share in its covered markets for the same period. Additionally, it is the leading pharmaceutical company in gynaecology and HIV antiviral therapeutic areas for the MAT September 2023.
 

Emcure Pharma reported a net profit of Rs 527.58 crore with a revenue of Rs 6,715.24 crore for the financial year ended on March 31, 2024. The company's net profit came in at Rs 561.85 crore with a revenue of Rs 6,031.72 crore for the financial year 2022-23.
 

As of September 30, 2023, Emcure Pharma employed 552 scientists and operated five research facilities in India. They filed over 1,800 documents globally, including 204 in the EU and 133 in Canada. They had 201 granted patents, 33 pending patent applications, and submitted 102 drug master files.
 

Emcure Pharma has reserved 1,08,900 shares for the eligible employees of the company, who will get a discount of Rs 90 per share. It has reserved 50 per cent of the issue for the qualified institutional bidders (QIBs), while non-institutional investors have 15 per cent of the net offer. Remaining 35 per cent of the net offer shall be allocated towards retail investors.
 

Kotak Mahindra Capital Company, Axis 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.