Emcure Pharmaceuticals IPO
Emcure Pharmaceuticals IPO — date, price band, lot size & details 2024
Emcure Pharmaceuticals listed on 10 Jul 2024 at ₹1,325.05, 31.5% above the ₹1,008 issue price.
Emcure Pharmaceuticals develops, makes and markets orals, injectables and biotherapeutics across major therapy areas in over 70 countries. Its total income was Rs 6,715.24 crore in FY2024.
Stock price
Emcure Pharmaceuticals is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 03 Jul 2024
- Close 05 Jul 2024
- Allotment 08 Jul 2024
- Refund/credit 09 Jul 2024
- Listing 10 Jul 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 3 to 5 Jul, 2024 |
|---|---|
| Price Band | ₹960 – ₹1008 |
| Face Value | ₹10 |
| Lot Size | 14 Shares |
| Issue Size | ₹1952.03 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 90.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,112 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 14 shares at the ₹1008 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 14 | ₹14,112 |
| Retail (max) | 14 | 196 | ₹1,97,568 |
| S-HNI (min) | 15 | 210 | ₹2,11,680 |
| S-HNI (max) | 70 | 980 | ₹9,87,840 |
| B-HNI (min) | 71 | 994 | ₹10,01,952 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 5,918.86 crore in FY2022 to Rs 6,715.24 crore in FY2024.
- 02Rs 800.00 crore of the fresh issue was planned for repaying debt.
- 03It sells in over 70 countries, with a strong presence in India, Europe and Canada.
- 04Net worth grew from Rs 1,987.55 crore on 31 March 2022 to Rs 2,952.28 crore on 31 March 2024.
- 05The source puts return on net worth at 16.87%.
Risks · 5
- 01Profit after tax fell from Rs 702.56 crore in FY2022 to Rs 527.58 crore in FY2024.
- 02The pre-issue P/E was 34.55 at the upper band of Rs 1,008, based on EPS of Rs 29.17.
- 03Total borrowing was Rs 2,091.94 crore on 31 March 2024.
- 04Rs 1,151.45 crore of the issue was offer for sale, and overseas markets add regulatory and currency risk.
- 05Promoters and the promoter group held 83.21% before the issue and about 78.24% after it, as per the RHP share counts.
Three years of numbers
All figures in ₹ crore, as reported in the Emcure Pharmaceuticals offer document.
| Metric | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 7,806.16 | 6,672.53 | 6,063.47 |
| Total Income | 6,715.24 | 6,031.72 | 5,918.86 |
| Profit After Tax | 527.58 | 561.85 | 702.56 |
| NET Worth | 2,952.28 | 2,501.13 | 1,987.55 |
| Total Borrowing | 2,091.94 | 2,202.42 | 2,102.19 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Emcure Pharmaceuticals RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Emcure Pharmaceuticals IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹29.17 | ₹27.95 |
| P/E Ratio (x) | 34.55 | 36.07 |
| Market Cap at Offer Price (₹ Cr) | ₹18,231.08 | ₹19,026.86 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹1008 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹841.14 Cr of the issue is earmarked to named objects.
About the company
It is research driven, with a portfolio of orals, injectables and biotherapeutics that reaches over 70 countries, with a strong presence in India, Europe and Canada.
In India it works across acute and chronic therapy areas, including gynaecology, cardiovascular, vitamins and minerals and HIV antivirals. Its promoters include Satish Ramanlal Mehta, Sunil Rajanikant Mehta, Namita Vikas Thapar and Samit Satish Mehta.
The IPO was Rs 1,952.03 crore, with Rs 800.58 crore of fresh issue and Rs 1,151.45 crore of offer for sale, mostly by BC Investments IV, with promoters and promoter group members also selling. Rs 800.00 crore was planned for repaying borrowings.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Emcure Pharmaceuticals IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Axis Capital
126 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Kotak Mahindra Capital Company Limited
93 issues handledBest listing: Premier Energies (+120.0%). Weakest: Rategain Travel Technologies (-15.3%).
Jefferies India Private Limited
34 issues handledBest listing: Nazara Technologies (+80.7%). Weakest: Turtlemint Fintech Solutions (-10.4%).
JP Morgan India Pvt. Ltd
22 issues handledBest listing: Premier Energies (+120.0%). Weakest: Nuvoco Vistas Corporation (-14.9%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Emcure Pharmaceuticals?
The current Grey Market Premium is ₹360, or 36% over the issue price.
What is the Emcure Pharmaceuticals IPO price band?
₹960 to ₹1008, on a face value of ₹10.
When is the allotment?
The basis of allotment is 8 July 2024, with listing on 10 July 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
