Emcure Pharma's IPO garnered substantial investor interest and is scheduled to make its debut on Dalal Street on Wednesday following robust subscription figures. The public issue, which opened on July 3, 2024, and closed on July 5, 2024, offered shares in a price range of Rs 960 to Rs 1008 each.
Backed by Namita Thapar, Emcure Pharma's IPO was oversubscribed 67.87 times. Specifically, it received 7.36 times subscriptions in the retail category, 191.24 times in the Qualified Institutional Buyers (QIB) category, and 49.32 times in the Non-Institutional Investors (NII) category.
"Emcure Pharmaceuticals Ltd., a prominent player in the pharmaceutical market, is poised for a strong debut on the stock market. The IPO has captured investor attention, reflecting a robust grey market premium (GMP) of Rs 372, representing a significant 36.9% premium over the issue price," noted Shivani Nyati, Head of Wealth at Swastika Investmart Ltd.
She highlighted Emcure's solid foundation and diverse product portfolio, catering to both domestic and international markets. Despite inherent risks such as regulatory challenges and potential disruptions in the supply chain, Nyati emphasized that strong investor demand and Emcure's sound fundamentals indicate a positive listing outlook.
As of July 9, 2024, the latest grey market premium (GMP) for Emcure Pharma's IPO stands at Rs 340. Based on the price band of Rs 1008, this suggests an estimated listing price of Rs 1348, reflecting a potential gain of 33.73% per share.
Emcure Pharma's IPO has drawn significant attention due to its promising market position and investor confidence, setting the stage for a promising entry into the stock market.
