By the second day of the sale, Emcure Pharmaceuticals Ltd.’s initial public offering (IPO), which was supported by Bain Capital, had achieved an incredible 4.98 times subscription. According to NSE data, institutional investors expressed substantial interest in the IPO, with bids for 6,81,87,028 shares against the 1,37,03,538 shares that were offered.
Day 2 Subscription for Emcure Pharma IPO
Retail individual investors (RIIs) subscribed 3.43 times, compared to 13.67 times for non-institutional investors. All available seats were taken up by qualified institutional buyers (QIBs).
This IPO consists of an offer for sale (OFS) of 1.14 crore equity shares, valued at Rs 1,152 crore at the upper price band, from promoters and current shareholders in addition to a new issue of equity shares valued at Rs 800 crore. The IPO has a total value of Rs 1,952 crore.
Promoter and investor BC Investments IV Ltd., a subsidiary of Bain Capital, are selling shares in the OFS. At now, BC Investments owns 13.07% of Emcure, while Satish Mehta owns 41.85% of the company.
The new issue’s proceeds will be applied to general corporate operations and debt repayment.
Emcure Pharmaceuticals, Day 2 Subscription for Emcure Pharma IPO
Emcure Pharmaceuticals declared on Tuesday that anchor investors had contributed Rs. 583 crore to the company. Emcure Pharmaceuticals, with its headquarters in Pune, creates, produces, and sells a variety of pharmaceutical goods worldwide in a number of important therapeutic areas.
The issue’s lead managers are Jefferies India, Axis Capital, JP Morgan India, and Kotak Mahindra Capital Company. The BSE and NSE will list Emcure’s equity shares.
Account opning link:
- Groww Account- https://app.groww.in/v3cO/kyrp1zph
- Kotak neo Account https://kotaksecurities.ref-r.com/c/i/32531/109103906
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