Emcure Pharmaceuticals IPO: The initial public offering (IPO) is scheduled to take place on July 3, 2024, and bids will be accepted through July 5, 2024. This indicates that the public issue will be available till this Friday. The pharmaceutical business set the IPO pricing range for Emcure Pharma between ₹960 and ₹1008 for each equity share. The public issue of Emcure Pharmaceuticals IPO went through smoothly on the first day of bidding, according to the IPO subscription status, and the gray market is also showing signs of optimism.
Observers of the stock market claim that shares of Emcure Pharmaceuticals Limited are currently available on the grey market for a premium of ₹333. With its maiden offer, the pharmaceutical company hopes to collect ₹1952.03 crore. The book build issue consists of a combination of new issues and offers for sale (OFS).
IPO GMP for Emcure Pharmaceuticals today
As previously stated, the Emcure Pharmaceuticals IPO GMP (grey market premium) is ₹333 today, which is ₹38 more than the ₹295 GMP from Wednesday. Stock market watchers attribute the increase in Emcure Pharma IPO GMP to a robust response from primary market investors as well as a robust bull trend on Dalal Street. They stated that because the Nifty 50 index reached a record high above 24,300, further gains in the Indian secondary market are anticipated. They anticipated greater growth in the Emcure Pharmaceuticals IPO’s grey market premium.
Status of Emcure Pharmaceuticals’ IPO subscription
Following the first day of bidding, 1.32 subscriptions were made for the public issue, 1.39 bookings were made for the retail component, 2.71 bookings were made for the NII section, and 0.07 fills were made for the QIB portion.
Review of Emcure Pharmaceuticals’ IPO
Rajan Shinde, a research analyst at Mehta Equities, tagged the public issue as “subscribe” and stated, “The issue is requesting a market cap of Rs. 19061/-cr based on valuation parse at the upper band of Rs. 1008/-.” The company is asking a PE of 36.13x, which seems fairly priced compared to its listed industry peers, who are trading at an average of PE ~40x. Because of its niche positions and product mix between listed peers and Emcure pharmaceuticals ltd., the PE of 36.13x is based on FY 2024 earnings and fully diluted post-IPO paid-up capital. Emcure is well-positioned for long-term growth because of its creative product range, significant international expansions, strategic focus on high-growth therapeutic areas, and strong R&D base.
Therefore, from a long-term standpoint, we advise our investors to “SUBSCRIBE” the Emcure Pharmaceuticals Ltd IPO.”
Anand Rathi has issued a ‘subscribe’ recommendation for the book build issue, noting, “At the upper price band, the company is reasonably valued with a P/E ratio of 36x based on FY24 earnings post-issuance of equity shares. We see potential for business growth due to favorable industry trends and scalability. Therefore, we advise a ‘SUBSCRIBE—long term’ rating for the IPO.”
In addition to this, a number of prominent brokers have also assigned a “subscribe” tag to the public issue, including BP Equities, Canara Bank Securities, DR Choksey, Geojit Securities, Marwadi Shares and Finance, Master Capital Services, Reliance Securities, Nirmal Bang, SBICAP Securities, StoxBox, etc.
The IPO details for Emcure Pharmaceuticals
Most likely, the IPO allotment date for Emcure Pharma is July 6, 2024. The share allotment will be made public on Monday of the following week, or July 8, 2024, if it is not disclosed by this Saturday. The proposed IPO listing date for Emcure Pharmaceuticals on the BSE and NSE is Wednesday, July 10, 2024, which is the most likely date.
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