Emcure Pharmaceuticals IPO
Emcure Pharmaceuticals Limited (EMCURE) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 10 July 2024.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +54.8% (likely range +14% to +57%), day's high +58.6%, chance of a gain 97%. Actual: +31.4% at the open, +37.4% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 37,62,896 | 73,68,91,932 | 196x | |
| NII (HNI) total | 29,49,523 | 14,25,26,748 | 48.3x | |
| Big NII (above ₹10 lakh) | 19,66,349 | 10,57,70,490 | 53.8x | |
| Small NII (₹2-10 lakh) | 9,83,174 | 3,67,56,258 | 37.4x | |
| Retail | 68,82,219 | 4,96,18,982 | 7.21x | |
| Employees | 1,08,900 | 9,59,728 | 8.81x | |
| Total | 1,37,03,538 | 92,99,97,390 | 67.9x |
Bids on NSE and BSE together, as published by NSE, as of 05 Jul 2024, 07:00 PM. Shares offered exclude the anchor portion. 5% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Emcure Pharmaceuticals's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| IndegeneMay 2024 | 198x | 55.1x | 7.95x | 69.9x | ₹1,840 Cr | +44.9% | +46.0% |
| SBFC FinanceAug 2023 | 193x | 49.1x | 11.0x | 70.2x | ₹1,082 Cr | +43.9% | +67.5% |
| Jupiter Life Line HospitalsSep 2023 | 187x | 34.8x | 7.73x | 63.7x | ₹886 Cr | +32.4% | +50.9% |
| ASK AutomotiveNov 2023 | 142x | 35.5x | 5.70x | 51.1x | ₹834 Cr | +7.5% | +12.3% |
| INOX IndiaDec 2023 | 148x | 53.2x | 15.3x | 61.3x | ₹1,459 Cr | +43.9% | +50.0% |
| Rashi PeripheralsFeb 2024 | 144x | 62.8x | 10.4x | 59.7x | ₹633 Cr | +9.2% | +10.2% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Axis Capital | 107 | +20.4% | 73% |
| Kotak Mahindra Capital Company | 83 | +20.8% | 76% |
| Jefferies India | 26 | +19.5% | 81% |
| J. P. Morgan India | 27 | +17.4% | 74% |
Offer documents (NSE)
Frequently asked
What is the Emcure Pharmaceuticals IPO price band and lot size? ₹960–1,008 per share, with a lot of 14 shares, so the smallest retail bid is ₹14,112.
How many times has it been subscribed? 67.9x overall: QIB 196x, NII 48.3x, retail 7.21x, employees 8.81x.
How did it list? It opened at ₹1,325, +31.4% against the issue price of ₹1,008, and closed its first day +34.8%.
