Emcure Pharma IPO Oversubscribed 67.87 Times In Phenomenal Day 3 Surge

Emcure Pharmaceutical Ltd.'s IPO, raising Rs 1,952 crore, includes a fresh issue of up to Rs 800 crore and the sale of 1.14 crore equity shares. The subscription soared to 67.87 times on Friday, following a rise from 4.98 times on Thursday and 1.32 times on its opening day, largely driven by non-institutional investors. Emcure Pharmaceutical Ltd., backed by Bain Capital, has set a price range of Rs 960 to Rs 1,008 per share for its upcoming IPO. At the upper end of this range, the company's market valuation reaches Rs 19,060 crore.

Among the selling shareholders in the Offer for Sale (OFS), BC Investments IV Ltd., an affiliate of Bain Capital, plans to offload 72.34 lakh shares. The IPO's book-running lead managers include Kotak Mahindra Capital Co., Axis Capital Ltd., Jefferies India Pvt., and JPMorgan India Pvt. Investors can bid for a minimum of 14 shares, with additional bids made in multiples. Ahead of its IPO, Emcure Pharmaceutical raised Rs 582 crore from anchor investors.