Emcure Pharmaceuticals, supported by Shark Tank judge Namita Thapar, made a stellar entry into the stock market on Wednesday. The company’s shares debuted at a significant premium of 31.45% over the issue price on both the National Stock Exchange and Bombay Stock Exchange, opening at Rs 1,325 compared to the issue price of Rs 1,000. In the grey market, Emcure Pharma shares were trading at a premium of Rs 360, indicating strong investor confidence and market enthusiasm for the company’s prospects.
About EMCURE Pharma
Emcure Pharmaceuticals operates in various therapeutic areas in India, including gynaecology, cardiology, vitamins, minerals, nutrients, HIV antivirals, haematologicals and oncology/anti-neoplastics. The company maintains a strong presence in India, Europe and Canada. In FY24, Emcure Pharma derived nearly 48.28 per cent of its revenue from India, while the rest was generated from international markets. Despite the challenges, the company reported a 6 per cent decline in net profit to Rs 527.6 crore, while achieving an 11.2 per cent growth in revenue to Rs 6,658.3 crore. Its operating profit (EBITDA) grew 4.1 per cent to Rs 1,229.7 crore, although operating profit margin saw a marginal decline of 1.20 per cent, coming in at 18.5 per cent for the period.
EMCURE Pharma IPO Price Band
Emcure Pharmaceuticals had initially fixed a price band of Rs 960-1008 for its IPO shares. After listing on the Bombay Stock Exchange (BSE), the company experienced a sharp rise of over 3 percent, with the shares reaching Rs 1384. The IPO had a lot size of 14 shares, and bids were sought for a total of 19,365,346 shares. Notably, the issue size of this Namita Thapar-backed venture was Rs 1952.03 crore, underlining the significant investor interest and confidence in the future prospects of Emcure Pharma.
EMCURE Pharma IPO listing Price
The estimated IPO listing price for Emcure Pharma stands at ₹1,308 per share, representing a significant 29.76% premium over the highest level of the IPO price band, which was set at ₹1,008. This valuation takes into account the prevailing premium observed in the grey market.
EMCURE Pharma IPO GMP
As per Investorgain.com, the current Grey Market Premium (GMP) for Emcure Pharma IPO stands at +300 on Wednesday. This indicates that Emcure Pharmaceuticals’ shares are trading at a ₹300 premium in the grey market compared to their IPO issue price.