After a highly successful initial public offering (IPO) which was subscribed 67.87 times, the allotment date for Emcure Pharmaceuticals Ltd is set to be finalized today. The pharmaceutical company received bids for 92,99,96,438 shares against only 1,37,03,538 shares on offer. Investors can expect to receive bank debit messages today evening and can also check the IPO status on Link Intime India's portal. Notably, anchor investors had already invested Rs 583 crore a day before the IPO and executive director Namit Thapar offloaded shares worth Rs 128 crore through the IPO.
Emcure Pharmaceuticals, a leading pharma company headquartered in Pune, has raised Rs 583 crore from prominent investors including HDFC Mutual Fund, ICICI Prudential MF, SBI MF, and Abu Dhabi Investment Authority, among others. The upcoming IPO, priced at Rs 960 to Rs 1,008 per share, is set to hit the market on July 3 and close on July 5. With a total offering of Rs 1,952 crore, including an offer for sale of Rs 1,152 crore and fresh equity shares worth Rs 800 crore, Emcure's market valuation is estimated at over Rs 19,000 crore. The raised capital will be used for debt repayments and general corporate expenses.