The highly anticipated Emcure Pharmaceuticals IPO is set to commence tomorrow, Wednesday, July 3. This initial public offering is expected to generate approximately ₹127.87 crore for Namita Thapar, a prominent investor from Shark Tank India and a key member of the Emcure Pharmaceuticals promoter group.
Namita Thapar, who acquired shares of Emcure Pharmaceuticals at an average price of ₹3.44 per share, will be selling around 12.68 lakh shares through the offer for sale (OFS) component of the IPO. With the top price band set at ₹1,008 per share, this sale is projected to yield nearly ₹127 crore. As of March 2024, Thapar held approximately 63 lakh shares, constituting a 3.5% stake in the Pune-based pharmaceutical company.
The IPO, which concludes on Friday, July 5, has a price band ranging from ₹960 to ₹1,008 per equity share, each with a face value of ₹10.
Namita Thapar has also secured her position as a Whole-Time Director of Emcure Pharmaceuticals, having been reappointed to the board for another five years. This reappointment, effective from July 28, 2024, was confirmed by board and shareholder resolutions on May 27, 2024, and June 5, 2024, respectively.
Besides Thapar, other key promoters, including Satish Ramanlal Mehta, Sunil Rajanikant Mehta, and Samit Satish Mehta, are also participating in the OFS as selling shareholders.
IPO Details: The Emcure Pharmaceuticals IPO is set to raise approximately ₹1,952.03 crores through the issue of 19,365,346 equity shares. This includes a fresh issue of approximately ₹800 crores, amounting to 7,936,507 equity shares, and an offer for sale (OFS) of approximately ₹1,152.03 crores, totaling 11,428,839 equity shares.
Listing and Quotas: The IPO price band is set between ₹960 to ₹1,008 per share, and the shares will be listed on both the BSE and NSE. The retail quota stands at 35%, while the quotas for Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) are set at 50% and 15%, respectively.
Employee Benefits: Employees of Emcure Pharmaceuticals are entitled to a ₹90 per share discount.
Grey Market Premium (GMP): As of now, the Grey Market Premium (GMP) for Emcure Pharmaceuticals IPO stands at ₹285, indicating strong investor interest and potential market enthusiasm for the IPO. Investors and stakeholders are closely watching these developments as Emcure Pharmaceuticals prepares to enter the public market, backed by Bain Capital’s strategic support.
