Emcure Pharmaceuticals IPO

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Emcure Pharmaceuticals IPO

Emcure Pharmaceuticals IPO is ready to open for subscription on July 3rd, 2024. This public offering includes a fresh issue of 79 lakh shares worth ₹800 crore and an offer-for-sale (OFS) of 1.14 crore shares valued at ₹1,152.03 crore. The company's promoters will be involved in the OFS, selling a portion of their stakes. 

Emcure Pharma IPO Details

The Emcure Pharma IPO is a book-built issue valued at ₹1,952.03 crore. The allotment for the Emcure Pharma IPO is expected to be finalised on Monday, July 8, 2024. Emcure Pharma IPO will list on BSE and NSE with a tentative listing date set for Wednesday, July 10, 2024. Here are the key details investors need to know:

IPO Size, Price Band, and Lot Size

  • Total Issue Size: 1,93,65,346 shares (aggregating up to ₹1,952.03 crore)
  • Fresh Issue: 79,36,507 shares (aggregating up to ₹800.00 crore)
  • Offer for Sale: 1,14,28,839 shares of ₹10 (aggregating up to ₹1,152.03 crore)
  • Price Band: ₹960 to ₹1,008 per share
  • Lot Size: 14 Shares
  • Valuation: Market experts estimate the valuation of Emcure Pharmaceuticals to be in the range of ₹18,000 crore to ₹20,000 crore.

Objectives of the IPO

The company intends to use the net proceeds from the IPO to achieve the following objectives:

  • Repay or prepay a portion or all of certain outstanding borrowings taken by the company.
  • Fund general corporate purposes.

IPO Timeline

  • Opening Date: Wednesday, July 3, 2024
  • Closing Date: Friday, July 5, 2024
  • Listing Date: Wednesday, July 10, 2024

IPO Lead Manager(s)

  • Kotak Mahindra Capital Co. Ltd.
  • Axis Capital Ltd.
  • J.P. Morgan India Pvt. Ltd.
  • Jefferies India Pvt. Ltd.

About Emcure Pharmaceuticals Limited

Founded in 1981, Emcure Pharmaceuticals Limited is an Indian pharmaceutical company. The company focuses on developing, manufacturing, and marketing a diverse range of pharmaceuticals across various crucial therapeutic segments.

As of September 2023, Emcure Pharmaceuticals was ranked 13th in domestic sales among Indian pharmaceutical companies. It also leads in the gynaecology and HIV antiviral therapeutic areas for the same period.

For the Financial Year 2024, sales in India accounted for 48.28% of Emcure's total revenue. The company's domestic sales have grown at a compound annual growth rate (CAGR) of 9.73% between MAT Financial Year 2020 and 2024, outperforming the broader Indian pharmaceutical market.

Emcure Pharmaceuticals Ltd Financial Report

Period Ended31 Mar 202431 Mar 202331 Mar 2022
Profit After Tax527.58561.85702.56
Total Borrowing2,087.312,194.932,083.62

(Amounts in ₹ Crore)

Promoters of the Company

The promoters of Emcure Pharmaceuticals Limited collectively hold 54.42% of the company, amounting to 9,85,91,192 shares (before the public issue). Key members of the Promoter Group include Everest Trust, Unity Trust, Bhavana Satish Mehta, and Pushpa Rajnikant Mehta, who together hold 5,21,39,276 shares or a 28.79% stake in the company.

Promoter Shareholding Before OFS:

Name of PromoterShares Held Before OFSStake Held Before OFS (%)
Satish Ramanlal Mehta7,58,16,74841.85
Sunil Rajanikant Mehta28,87,0121.59
Namita Vikas Thapar63,39,8003.50
Samit Satish Mehta1,35,47,6327.48
  1. Satish Ramanlal Mehta: Founder and Managing Director of Emcure Pharma Ltd, he holds the largest stake with 7,58,16,748 shares (41.85% stake). He will sell up to 4.2 lakh equity shares in the OFS. Mehta founded Emcure Pharma in 1981.
  2. Samit Satish Mehta: The second-largest shareholder, he owns a 7.48% stake (1,35,47,632 shares). He will sell up to 10,000 equity shares in the OFS. Samit serves as the Executive Director of Operations.
  3. Namita Vikas Thapar: Holding a 3.5% stake (63,39,800 shares), Shark Tank India fame, Namita Vikas Thapar, will offload up to 12,68,600 shares in the IPO. Namita joined the company as CFO in 1999 and is currently the Executive Director.
  4. Sunil Rajanikant Mehta: With a 1.59% stake (28,87,012 shares), he will sell up to 40,000 shares in the OFS. Sunil, a Whole-time Director, has been with Emcure since 1983 and joined the Board in 2013, playing a pivotal role in establishing the company's manufacturing facilities.

Disclaimer: Investors should conduct their own research and consider their financial goals and risk tolerance before investing. The information provided in this article is for informational purposes only and does not constitute financial advice. Investing in stocks, including IPOs, involves risks, and investors should proceed at their own risk. Consulting with a financial advisor is recommended for personalised investment advice.


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