Bain Capital-backed Emcure Pharma IPO opens on July 3: Namita Thapar to sell stake—10 key things to know


Emcure Pharmaceuticals IPO: The mainboard initial public offering (IPO) of leading pharma company Emcure Pharmaceuticals Ltd will open for subscription on Wednesday, July 3, 2024. The company develops, manufactures and markets a wide range of pharmaceutical products across several key therapeutic areas. Emcure Pharma's product portfolio includes injectables, biotherapeutics and orals. The research and development (R&D) driven firm targets markets in over 70 countries, with a significant presence in Europe, Canada and India.

The selling shareholders in the public issue include promoters Satish Ramanlal Mehta, Sunil Rajnikant Mehta, Namita Vikas Thapar, Samit Satish Mehta and investor BC Investment IV Ltd, an affiliate of US-based private equity major Bain Capital. Between March 31, 2024 and March 31, 2023, Emcure Pharma's profit after tax (PAT) declined 6.1 per cent while its sales grew 11.33 per cent.

Also read: Emcure Pharma IPO: What the GMP hints at before it opens for subscription

As per the Red Herring Prospectus (RHP), the listed peers of the company are Dr. Reddy's Laboratories Limited (with 17.93 P/E), Cipla Limited (with 30.10 P/E), Alkem Laboratories Limited (with 33.86 P/E), Torrent Pharmaceutical Limited (with 57.74 P/E), Mankind Pharma (with 45.30 P/E), Abbott India Limited (with 47.43 P/E), JB Chemicals & Pharmaceutical Limited (with 50.49 P/E).

Here are the top 10 things to know about Emcure Pharmaceuticals IPO:

1. Emcure Pharmaceuticals IPO Key Dates: Emcure Pharma IPO will open for subscription on July 3, 2024, and close on July 5, 2024. Allotment to anchor investors for Emcure Pharmaceuticals IPO is scheduled to take place on Tuesday, July 2.

2. Emcure Pharmaceuticals IPO Price Band: Emcure Pharma IPO price band has been fixed From 960 Face value of Rs 1,108 per equity share 10 each.

3. Emcure Pharmaceuticals IPO Details: Emcure Pharma IPO is a book built issue 1,952.03 crores. The issue is a combination of a fresh issue of 0.79 crore shares, aggregating to Rs. 1,952.03 crores. 800.00 crore and an Offer for Sale (OFS) of 1.14 crore shares in aggregate Rs 1,152.03 crore

4. Emcure Pharmaceuticals IPO Lot Size: The minimum lot size for application is 14 shares. This means that investors can bid for a minimum of 14 shares and in multiples thereof. The floor price and cap price are 96 times and 100.80 times the face value of the equity shares, respectively.

5. Emcure Pharmaceuticals IPO Objective: The pharma company proposes to use the net proceeds for repayment and/or prepayment of all or part of certain outstanding borrowings availed by the company and for general corporate purposes.

6. Emcure Pharmaceuticals IPO Reservation: The Emcure Pharma IPO has reserved not more than 50 per cent of the shares in the public issue for qualified institutional buyers (QIBs), not less than 15 per cent for non-institutional institutional investors (NIIs), and not less than 35 per cent for retail investors. The employee portion has been reserved up to 108,900 equity shares. Eligible employees bidding in the employee reservation portion are being offered Rs 90 per equity share.

7. Emcure Pharmaceuticals IPO Allotment Date and Listing Date: The basis of allotment of shares for Emcure Pharma IPO will be decided on Monday, July 8 and the company will initiate refunds on Tuesday, July 9, while the shares will be credited to the demat account of allottees on the same day after the refund. Emcure Pharma share price is likely to be listed on BSE and NSE on Wednesday, July 10.

8. Lead Manager and Registrar of Emcure Pharmaceuticals IPO: The Book Running Lead Managers for the Emcure Pharma IPO are Axis Capital Limited, JPMorgan India Private Limited, Jefferies India Private Limited and Kotak Mahindra Capital Company Limited. The registrar to the offer is Link Intime India Private Limited.

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