Emcure Pharmaceuticals Limited IPO

Mainboard

Pharmaceuticals

Listed On: Jul 10, 2024 at ₹ 1325.05(NSE)

₹ 14112 /14 Shares

Check Allotment

Price Summary

Last Closing

1,315.00 (30.46%)

52 Week High

1,580.00

52 Week Low

1,225.00

Last Update

22-Nov-2024 3:30 PM

Emcure Pharmaceuticals Limited IPO Details

03 Jul, 2024

Open Date

05 Jul, 2024

Close Date

08 Jul, 2024

Allotment Date

10 Jul, 2024

Listing Date

Issue Price

₹960-1008 per equity share

Face Value

₹10 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Link Intime India Private Ltd

List Price

1325.05(NSE)

Listing Date

2024-07-10

Market Lot

Retail : 14 Shares (₹14,112/-)
S-HNI : 210 Shares (₹2,11,680/-)
B-HNI : 994 Shares (₹10,01,952/-)

Lead Manager

Kotak Mahindra Capital Company Limited
Axis Capital Limited
J.P. Morgan India Private Limited
Jefferies India Private Limited

Issue Size

Total ₹1,952.03 Cr :
#Fresh Issue : 7,936,507 shares(aggregating up to ₹800.00 Cr) +
#OFS : 11,428,839 shares of ₹10(aggregating up to ₹1,152.03 Cr)

Retail Portion

35% (Number of Retail Applications: 4,81,654 Approx),
(Number of S-HNI Applications : 4,587 Approx),
(Number of B-HNI Applications : 9,174 Approx)

Subscription

67.84 times

IPO Docs

DRHP RHP ANCHOR

Emcure Pharmaceuticals Limited IPO Subscription Details

As on	QIB	NII bNII sNII	Retail	Total
Shares Offered / Reserved	3,853,234	2,889,926 1,926,618 963,309	6,743,160	13,703,538
Day 1 - 03-07-24 05:00 PM	0.07 x	2.71 2.54 x 3.04 x	1.39 x	1.32 x
Day 2 - 04-07-24 05:00 PM	1.00 x	13.67 14.15 x 12.70 x	3.43 x	4.98 x
Day 3 - 05-07-24 05:00 PM	195.83 x	48.28 53.79 x 37.26 x	7.17 x	67.84 x

Total No. of Applications: 28,45,226 (Approx)

Retail Subscription on the basis of Applications: Retail:5.7x BHNI:10.99x SHNI:36.54x times

Emcure Pharmaceuticals Limited Valuations

EPS Pre IPO

₹29.17/-

EPS Post IPO

₹27.95/-

P/E Pre IPO

34.55

P/E Post IPO

36.07

RoNW

16.87%

Emcure Pharmaceuticals Limited Company Financials All values are in ₹ Cr.

	31-Mar-24	31-Mar-23	31-Mar-22
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 & Surplus	2,722.40	2,293.77	1,987.55
Total Borrowing	2,091.94	2,202.42	2,102.19

About The Company

Emcure Pharmaceuticals Limited, an Indian pharmaceutical company, develops, manufactures, and globally markets a wide range of pharmaceutical products across several major therapeutic areas.

The company has been ranked 13th in domestic sales among pharmaceutical companies in India for MAT September 2023 and 4th in market share in our covered markets for the same period. Additionally, it is the leading pharmaceutical company in gynaecology 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.

As of September 30, 2023, Emcure Pharma employed 552 scientists and operated five research facilities in India. They filed over 1,800 documents globally, including 204 in the EU and 133 in Canada. They had 201 granted patents, 33 pending patent applications, and submitted 102 drug master files.

Emcure Pharmaceuticals has 13 manufacturing facilities in India. These facilities can produce various pharmaceutical and biopharmaceutical products, including pills, liquids, injectables, and complex ingredients such as chiral molecules, iron molecules, and cytotoxic substances.

As of September 30, 2023, the company's marketing and distribution network in India was supported by over 5,000 field personnel who regularly interacted with healthcare providers. The distribution network included over 5,000 stockists, served by 37 carry-and-forward agents.

Emcure Pharmaceuticals Limited - Strength and Weakness

Strength

Emcure's strong focus on the Indian market, accounting for over half of its revenue, has propelled it to a top position in key therapeutic areas like gynaecology and HIV antivirals, showcasing significant growth potential and market dominance.

With a presence in over 70 countries, particularly in Europe and Canada, Emcure's diversified product portfolio offers ample growth opportunities internationally, contributing significantly to its overall revenue.

Emcure's robust in-house R&D expertise enables the development of a differentiated product range, including complex molecules, novel drug delivery systems, and biotherapeutics, providing the company with a competitive advantage.

Weakness

Emcure Pharmaceuticals Limited faces the risk of non-compliance with regulatory requirements and quality standards. Failure to comply may lead to regulatory actions such as restrictions on product sales, recalls, civil penalties, or criminal prosecutions, which could significantly impact the company's reputation and financial stability.

The company is exposed to product liability claims due to potential quality issues in its products. Product recalls or failure to meet quality standards can result in financial losses, legal proceedings, and damage to Emcure's brand image.

As a highly regulated industry participant, Emcure must obtain and maintain various regulatory licences, permits, and approvals. Changes in regulatory requirements or new laws could further increase compliance challenges for the company.

Emcure faces operational risks related to manufacturing and research activities. Any disruptions, shutdowns, or delays in operations due to equipment failures, accidents, or regulatory disputes could impact production, fulfilment of contractual commitments, and overall business performance.

Emcure Pharmaceuticals Limited - Peers Comparison

	P/B Ratio	P/E Ratio	RoNW	Net Worth
Emcure Pharma	6.18	36.1	16.9%	6,715
Dr. Reddy's Lab	3.76	19.2	21.6%	28,011
Cipla Limited	4.50	28.2	17.0%	25,774
Alkem Lab	5.76	31.5	19.5%	12,668
Torrent Pharma	13.8	59.3	24.4%	10,728
Mankind Pharma	8.86	46.7	21.0%	9,265
Abbott India	15.9	48.9	34.9%	5,849
J.B Chemicals	9.35	49.2	20.4%	3,484

Emcure Pharmaceuticals Limited - Promoter(s)

Pre Issue Share Holding: 98.90%

Post Issue Share Holding: N/A%

Company Promoter(s)

Satish Mehta
Sunil Mehta

Emcure Pharmaceuticals Limited IPO - Issue Objectives

Repayment and/ or prepayment of all or a portion of certain outstanding borrowings availed by the company
General corporate purposes

Emcure Pharmaceuticals Limited IPO - Anchor Investors

Emcure Pharmaceuticals raises Rs 583 crore from anchor investors ahead of IPO.

Marquee global investors including Abu Dhabi Investment Authority, Goldman Sachs, and Morgan Stanley bought more than Rs 71 crore worth of shares of the company from the anchor book.

In addition, several mutual funds houses including SBI, HDFC, ICICI Prudential, Whiteoak Capital, Aditya Birla Sun Life Trustee, Axis, Kotak, Nippon Life India, Mirae, Franklin India, UTI, Canara Robeco and Motilal Oswal also participated in the anchor book.

Among others, HDFC Life Insurance Company, ICICI Prudential Life Insurance Company, SBI Life Insurance Company, Amundi Funds, Neuberger Berman Emerging Markets Equity Fund, The Prudential Assurance Company, Bajaj Allianz Life Insurance Company, and Max Life Insurance Company, too, invested in the pharma firm.

Other Details

Company Contact Details

Emcure Pharmaceuticals Limited

Plot No. P-1 and P-2,, IT-BT Park, Phase II, M.I.D.C., Hinjawadi, Pune -411 057

Phone: +91 20 3507 0033

Email: investors@emcure.co.in

Website: https://www.emcure.com/

Registrar Contact Details

Link Intime India Private Ltd

Phone: +91-22-4918 6270

Email: emcure.ipo@linkintime.co.in

Website: https://linkintime.co.in/initial_offer/public-issues.html

Emcure Pharmaceuticals Limited IPO - FAQs

Ans. Emcure Pharmaceuticals Limited IPO is a Mainboard IPO. The issue is priced at ₹960-1008 per equity share. The minimum order quantity is 14 Shares. The IPO opens on Jul 3, 2024, and closes on Jul 5, 2024. Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Emcure Pharmaceuticals Limited IPO opens on Jul 3, 2024 and closes on Jul 5, 2024.

Ans. The size of Emcure Pharmaceuticals Limited IPO is Total ₹1,952.03 Cr : #Fresh Issue : 7,936,507 shares(aggregating up to ₹800.00 Cr) + #OFS : 11,428,839 shares of ₹10(aggregating up to ₹1,152.03 Cr).

Ans. The IPO price band is set between ₹960-1008 per equity share.

Ans. To apply for Emcure Pharmaceuticals Limited IPO IPO, follow the steps given below:

- Open the IPO Ji App or Website
- Find Emcure Pharmaceuticals Limited IPO in the List of IPOs
- Press "Apply" Button
- Select Your Demat Account
- Select Your Shares Quantity and Submit
- Track Your IPO Status

Ans. The share allotment date of Emcure Pharmaceuticals Limited IPO is Jul 8, 2024.

Ans. The Emcure Pharmaceuticals Limited IPO will be listed on Jul 10, 2024.

Ans. Follow the steps to check the allotment status for Emcure Pharmaceuticals Limited IPO here.