Emcure Pharma IPO Price: ₹960 to ₹1008 per share
IPO Date Range: 3 July 2024 - 5 July 2024
Incorporated in 1981, Emcure Pharmaceuticals Limited is an Indian pharmaceutical company that develops, manufactures, and globally markets a wide range of pharmaceutical products across several major therapeutic areas. Emcure Pharmaceuticals has established a strong presence in the Indian market, ranking 13th in domestic sales among pharmaceutical companies for MAT September 2023 and achieving the leading position in gynaecology and HIV antiviral therapeutic areas.
Emcure Pharmaceuticals Limited operates 13 manufacturing facilities in India, producing a diverse range of pharmaceutical and biopharmaceutical products, including pills, liquids, injectables, and complex ingredients such as chiral molecules, iron molecules, and cytotoxic substances. The company employs 552 scientists and runs five research facilities in India. As of September 30, 2023, Emcure had filed over 1,800 documents globally, including 204 in the EU and 133 in Canada, with 201 granted patents and 33 pending patent applications.
The company's marketing and distribution network in India is supported by over 5,000 field personnel who regularly interact with healthcare providers. Emcure’s extensive distribution network includes over 5,000 stockists, served by 37 carry-and-forward agents, ensuring a broad reach within the country. Their differentiated product portfolio, which includes orals, injectables, and biotherapeutics, has enabled Emcure to penetrate markets across over 70 countries, with a strong presence in India, Europe, and Canada.
Emcure Pharmaceuticals competitive advantage in the domestic market is driven by its diversified product portfolio, which has established a significant presence in major therapeutic areas like gynecology, cardiovascular, vitamins, minerals and nutrients, HIV antivirals, blood-related, and oncology/antineoplastics. Chronic therapeutic areas, which are expected to grow faster than acute ones, contributed significantly to the company's domestic sales. Emcure’s strengths include its brand-building capabilities, extensive and diversified manufacturing capacity, and strong R&D capabilities. The company is led by experienced promoters and a professional management team, positioning it well for future growth.
| IPO Date | July 3, 2024 to July 5, 2024 |
| Listing Date | Wednesday, July 10, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹960 to ₹1008 per share |
| Lot Size | 14 Shares |
| Total Issue Size | 19,365,346 shares (aggregating up to ₹1,952.03 Cr) |
| Fresh Issue | 7,936,507 shares (aggregating up to ₹800.00 Cr) |
| Offer For Sale | 11,428,839 shares (aggregating up to ₹1,152.03 Cr) |
| Employee Discount | Rs 90 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 180,852,116 |
| Share holding post issue | 188,788,623 |
Bidders have the opportunity to bid for a minimum of 14 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 14 | ₹14,112 |
| Retail (Max) | 14 | 196 | ₹197,568 |
| S-HNI (Min) | 15 | 210 | ₹211,680 |
| S-HNI (Max) | 70 | 980 | ₹987,840 |
| B-HNI (Min) | 71 | 994 | ₹1,001,952 |
| QIB Shares Offered | Not more than 50% of the Net offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
| IPO Open Date | Wednesday, July 3, 2024 |
| IPO Close Date | Friday, July 5 2024 |
| Basis of Allotment | Monday, July 8, 2024 |
| Initiation of Refunds | Tuesday, July 9, 2024 |
| Credit of Shares to Demat | Tuesday, July 9, 2024 |
| Listing Date | Wednesday, July 10, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 5, 2024 |
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Emcure Pharmaceuticals Limited saw an 11.33% increase in revenue, while its profit after tax (PAT) decreased by 6.1% between the financial years ending March 31, 2024, and March 31, 2023.
| Period Ended | 31 Mar 2022 | 31 Mar 2023 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 6063.47 | 6672.53 | 7806.16 |
| Revenue | 5918.86 | 6031.72 | 6715.24 |
| Profit After Tax | 702.56 | 561.85 | 527.58 |
| Net Worth | 1987.55 | 2501.13 | 2952.28 |
| Reserves & Surplus | 1791.03 | 2293.77 | 2722.40 |
| Total Borrowing | 2102.19 | 2202.42 | 2091.94 |
| KPI | Values |
|---|---|
| Market Cap | Rs 19029.89 Cr |
| EPS | Rs 29.17 |
| P/E (x) | 34.55 |
| ROE | 16.90% |
| ROCE | 19.37% |
| Debt/ Equity | 0.67 |
| RoNW | 16.87% |
The company plans to use the net proceeds for the following purposes:
Prospectus: Official documents that provide detailed information about the IPO and the company. Emcure Pharmaceuticals Limited DRHP and Emcure Pharmaceuticals Limited RHP.
An IPO, or Initial Public Offering, is the process by which a private company offers its shares to the public for the first time to raise capital.
Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.
The price range for the"Emcure Pharmaceuticals Limited" IPO is ₹960 to ₹1,008 per share.
The "Emcure Pharmaceuticals Limited" IPO is expected to be listed on Wednesday, 10 July 2024.
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