Admin
28 June 2024

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 Overview

Detail	Description
IPO Date	July 3, 2024 to July 5, 2024
Listing Date	[.]
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 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	180,852,116
Shareholding post issue	188,788,623

Emcure Pharma IPO Timeline (Tentative Schedule)

Detail	Description
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

Emcure Pharma IPO Lot Size

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

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

Emcure Pharma IPO Promoter Holding

Share Holding Pre Issue	98.90%
Share Holding Post 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.

Emcure Pharmaceuticals Limited Financial Information

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	7,806.16	6,672.53	6,063.47
Revenue	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
Reserves and Surplus	2,722.40	2,293.77	1,791.03
Total Borrowing	2,091.94	2,202.42	2,102.19
Amount in ₹ Crore

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

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 purposes.

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.

FAQs for Emcure Pharma IPO

What is the Emcure Pharmaceuticals IPO?

Emcure Pharmaceuticals IPO is a main-board IPO. They are going to raise ₹1952.03 Crores via IPO. The issue is priced at ₹960 to ₹1008 per equity share. The IPO is to be listed on BSE & NSE.
When will Emcure Pharmaceuticals IPO?

The IPO is to open on July 3, 2024, for QIB, NII, and Retail Investors.
What is Emcure Pharmaceuticals IPO Investors Portion?

The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
What is Emcure Pharmaceuticals IPO Size?

Emcure Pharmaceuticals IPO size is ₹1952.03 crores.
What is Emcure Pharmaceuticals IPO Price Band?

Emcure Pharmaceuticals IPO Price Band is ₹960 to ₹1008.
What is the Emcure Pharmaceuticals IPO Allotment Date?

Emcure Pharmaceuticals IPO allotment date is July 8, 2024.
What is the Emcure Pharmaceuticals IPO Listing Date?

Emcure Pharmaceuticals IPO listing date is July 10, 2024. The IPO is to be listed on BSE and NSE.