Emcure Pharmaceuticals Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | July 3, 2024 to July 5, 2024 |
| Listing Date | [.] |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 960 to ₹ 1,008 per share |
| Lot Size | 14 Shares |
| Total Issue Size | 1,93,65,346 shares (aggregating up to ₹ 1,952.03 Cr) |
| Fresh Issue | 79,36,507 shares (aggregating up to ₹ 800.00 Cr) |
| Offer for Sale | 1,14,28,839 shares of ₹10 (aggregating up to ₹ 1,152.03 Cr) |
| Employee Discount | Rs 90 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 18,08,52,116 |
| Shareholding post issue | 18,87,88,623 |
About Emcure Pharmaceuticals Limited IPO
Emcure Pharmaceuticals is an Indian pharmaceutical company engaged in developing, manufacturing and globally marketing a broad range of pharmaceutical products across several major therapeutic areas. They are a research and development (R&D) driven company with a differentiated product portfolio that includes orals, injectable and biotherapeutics, which has enabled them to reach a range of target markets across over 70 countries, with a strong 218 presence in India, Europe and Canada. Emcure Pharma IPO is a book-built issue of Rs 1,952.03 crores.
The issue is a combination of a fresh issue of 0.79 crore shares aggregating to Rs 800.00 crores and an offer for sale of 1.14 crore shares aggregating to Rs 1,152.03 crores. Emcure Pharma IPO opens for subscription on July 3, 2024 and closes on July 5, 2024. The allotment for the Emcure Pharma IPO is expected to be finalized on Monday, July 8, 2024. Emcure Pharma's IPO price band is set at ₹960 to ₹1008 per share. The minimum lot size for an application is 14 Shares. Kotak Mahindra Capital Company Limited, Axis Capital Limited, J.P. Morgan India Private Limited and Jefferies India Private Limited are the book-running lead managers of the Emcure Pharma IPO, while Link Intime India Private Ltd is the registrar for the issue.
Emcure Pharma IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not more than 15% of the Net Issue |
Company & Financials
Incorporated in 1981, Emcure Pharmaceuticals Limited, an Indian pharmaceutical company, develops, manufactures, and globally markets a wide range of pharmaceutical products across several major therapeutic areas. The company has been ranked 13th in domestic sales among pharmaceutical companies in India for MAT September 2023 and 4th in market share in its covered markets for the same period. Additionally, it is the leading pharmaceutical company in gynaecology and HIV antiviral therapeutic areas for the MAT September 2023. In the six months ended September 30, 2023, and the Financial Year 2023, sales in India contributed 50.84% and 53.16% of the company's total revenue, respectively. The company's Domestic sales grew at a CAGR of 10.80% between September 2019 and September 2023, outperforming the Indian pharmaceutical market. Emcure Pharmaceuticals has 13 manufacturing facilities in India. These facilities can produce various pharmaceutical and biopharmaceutical products, including pills, liquids, injectables, and complex ingredients such as chiral molecules, iron molecules, and cytotoxic substances.
Objectives of Emcure Pharma IPO
-
The Company proposes to utilize the Net Proceeds towards funding the following objectives:
- • Repayment and/ or prepayment of all or a portion of certain outstanding borrowings availed by the company.
- • General Corporate Purpose.
Emcure Pharma IPO Review
The company is one of the leading pharma companies having niche products and serving global markets. It marked growth in its top lines, but the bottom line posted declining trends due to higher interest and depreciation costs. Based on FY24 earnings, the issue appears fully priced. Reduction in debt post-IPO will improve its bottom line commensurately. Investors may park funds for the medium to longer term.
Emcure Pharmaceuticals Limited IPO Financial Information
Latest Revenue
6,715.24
₹ Crore
Profit After Tax
527.58
₹ Crore
Net Worth
2,952.28
₹ Crore
Total Borrowing
2,091.94
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2024 | 7,806.16 | 6,715.24 | 527.58 | 2,952.28 | 2,091.94 | ||||
| 31 Mar 2023 | 6,672.53 | 6,031.72 | 561.85 | 2,501.13 | 2,202.42 | ||||
| 31 Mar 2022 | 6,063.47 | 5,918.86 | 702.56 | 1,987.55 | 2,102.19 | ||||
| Amount in ₹ Crore | |||||||||
Emcure Pharmaceuticals Limited Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 16.90% |
| ROCE | 19.37% |
| Debt/Equity | 0.67 |
| RoNW | 16.87% |
| P/BV | 6.18 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 29.17 | 27.95 |
| P/E (x) | 34.55 | 36.07 |
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Competitive Strengths
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Emcure Pharmaceuticals Limited IPO Timeline
| 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 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid 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 |