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Emcure Pharma shares zoom over 31 pc in debut trade

BNE News Desk , July 10, 2024
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New Delhi: Emcure Pharmaceuticals Ltd's shares debuted on Wednesday at a premium of more than 31 pc from the Rs 1,008 issue price. The stock opened trading at Rs 1,325.05, showing a rise of 31.45 percent on both BSE and NSE.

Following that, the company's shares surged by 37.30 per cent to reach Rs 1,384 on BSE and by 37.40 per cent to reach Rs 1,385 on NSE. The company was valued at Rs 25,546.24 crore in the market. On the final day of the offering on Friday, the IPO of Emcure Pharmaceuticals, which is backed by Bain Capital, was oversubscribed by 67.87 times due to strong interest from institutional buyers.

The initial public offering had a price range of Rs 960-1,008 per share. The IPO included new equity shares valued at Rs 800 crore and an offer for sale of 1.14 crore shares worth Rs 1,152 crore from promoters and current shareholders at the top price range.

This increased the overall issue amount to Rs 1,952 crore. The company from Pune focuses on creating, producing, and selling various pharmaceutical goods in numerous significant medical fields worldwide.