Emcure Pharmaceuticals IPO listing tomorrow: Here’s what GMP, subscription status indicate ahead of listing

Emcure Pharmaceuticals IPO listing date has been scheduled for tomorrow (Wednesday, July 10). Emcure Pharmaceuticals IPO allotment has been finalised. The Emcure Pharma IPO allotment date was scheduled for Monday, July 8. For those who have been allocated shares, the crediting of shares to demat accounts will occur today, Tuesday, July 9. Furthermore, today will see the completion of the share refunding procedure for those who have not yet received their shares.

The non-institutional investors led the oversubscription of the Emcure Pharma IPO on the third day of the bidding process. According to BSE data, Emcure Pharmaceuticals IPO subscription status was 67.87 times.

The non-institutional investors received a subscription 48.32 times, followed by the retail investors portion that was booked 7.21 times. Qualified Institutional Buyers (QIBs) was booked 195.83 times, while the employee component had 8.81 times subscriptions.

According to BSE data, Emcure Pharmaceuticals IPO subscription status was 1.32 times on the first day of bidding and 4.98 times on the second.

Also Read: Emcure Pharma IPO: Issue fully subscribed on day 1; check subscription status, GMP and other details

Emcure Pharmaceuticals, a Pune-based business, conducts research, develops, produces, and markets pharmaceutical products worldwide across many therapeutic areas. The shares, which were offered for subscriptionat a price range of ₹960 to ₹1,008, ended on July 5. Subscriptions for the Emcure Pharmaceuticals IPO opened on Wednesday, July 3.

According to Prashanth Tapse, Research Analyst, Senior Vice President of Research at Mehta Equities, Emcure Pharma received a robust response from the day one to the last day of the issue from all types of investors. We believe the investor demand has come considering reasonable valuations and an opportunity to invest in the leading pharmaceutical company in India in the gynecology and HIV antivirals therapeutic areas. Considering all the parameters subscription demand and market sentiments, it is indicating a healthy room for listing gain in the range of ~25-30%.

Also Read: Emcure Pharma IPO allotment date likely today. GMP, how to check allotment status online

Let's check what does Emcure Pharmaceuticals IPO GMP today signal ahead of listing.

Emcure Pharma IPO GMP today is +352. This indicates Emcure Pharmaceuticals share price were trading at a premium of ₹352 in the grey market, according to investorgain.com.

The estimated listing price for the Emcure Pharma IPO was ₹1,360 per share, which is 34.92% more than the IPO price of ₹1,008 when taking into account the top end of the IPO pricing band and the existing premium on the grey market.

IPO GMP is heading upward and is expected to have a solid listing based on the actions of the past 13 sessions of the grey market. According to analysts at investorgain.com, the lowest GMP is ₹0, and the maximum GMP is ₹390.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Emcure Pharma IPO: GMP jumps as allotment date likely today. How to check status

Emcure Pharmaceuticals IPO details

The IPO comprises of a fresh offering of ₹800 crore and an offer by existing promotersand shareholders to sell ₹1,151 crore. The value of the issue size at the top of the price band is ₹1,952 crore.

The selling shareholders in the OFS include promoters Satish Ramanlal Mehta, Sunil Rajanikant Mehta, Namita Vikas Thapar, and Samit Satish Mehta.

Furthermore, shares in the OFS will be offloaded by Pushpa Rajnikant Mehta, Bhavana Satish Mehta, Kamini Sunil Mehta, Arunkumar Purshotamlal Khanna, Berjis Minoo Desai, and Sonali Sanjay Mehta, in addition to BC Investments IV.

The book running lead managers for the Emcure Pharma IPO are Axis Capital Limited, J.P. Morgan India Private Limited, Jefferies India Private Limited, and Kotak Mahindra Capital Company Limited. The registrar for the offering is Link Intime India Private Ltd.

Also Read: Emcure Pharmaceuticals IPO day 2: GMP, subscription status, review to allotment date. Apply or not?

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.