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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.
The IPO opens for subscription on July 3, 2024, and closes on July 5, 2024, and the minimum lot size for an application is 14 Shares.
Company Summary
They are 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, injectables and
biotherapeutics, which has enabled them to reach a range of target markets across over 70 countries, with a strong presence in India, Europe, and Canada.
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 gynecology 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.
Company strengths
Their strong position in several therapeutic areas such as gynecology, cardiovascular, blood-related, pain and analgesics, and oncology/antineoplastics has been driven by our differentiated product portfolio and first-to-market product launches.
They are a market leader in the gynecology therapeutic area in the IPM, where they are ranked 1st and have a 13.53% market share, in terms of Domestic Sales for MAT Financial Year 2024.
As of March 31, 2024, their marketing and distribution network in India was supported by a field force of over 5,000 personnel who interact regularly with doctors and other healthcare providers to promote their pharmaceutical products.
In addition, 16 of their top 20 brands were each ranked among the three highest-selling brands in their respective therapeutic areas in the IPM, in terms of Domestic Sales for MAT Financial Year 2024
Company Financials
| 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 | |||
Objectives of the IPO
The Company proposes to utilize the Net Proceeds towards funding of the following objects:
- Repayment and/ or prepayment of all or a portion of certain outstanding borrowings availed by their Company.
- General corporate purposes
Promoters of the Company
Satish Ramanlal Mehta, Sunil Rajanikant Mehta, Namita Vikas Thapar*, and Samit Satish Mehta* are the Promoters of our Company.
IPO details
| IPO Date | July 3, 2024 to July 5, 2024 |
| Listing Date | Wednesday, July 10, 2024 |
| 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) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Allocation details
| 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 |
Allotment Schedule
| Basis of Allotment | Monday, July 8, 2024 |
| Initiation of Refunds | Tuesday, July 9, 2024 |
| The 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 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 |
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