Connect with us


Emcure Pharmaceuticals IPO Sees Strong Demand on Day 2 of Bidding



Times News Global Featured Image

Emcure Pharmaceuticals‘ initial public offering (IPO) has garnered significant attention on the second day of bidding, showcasing robust demand from investors across different categories. The pharma company’s IPO, which opened on 3rd July 2024, has received positive feedback from market experts and brokerage firms.

With a price band set between ₹960 to ₹1008 per equity share, Emcure Pharmaceuticals aims to raise ₹1952.03 crore through a combination of fresh issuances and offer-for-sale (OFS). The IPO has already secured substantial subscription levels, indicating a positive market sentiment towards the company.

The grey market for Emcure Pharmaceuticals IPO is showing bullish trends, with shares currently trading at a premium of ₹333. This surge in the grey market premium can be attributed to a strong response from primary market investors and favorable market conditions on Dalal Street, where the Nifty 50 index recently reached new highs.

Market analysts like Rajan Shinde from Mehta Equities and Anand Rathi have recommended investors to “subscribe” to the Emcure Pharmaceuticals IPO, citing the company’s strategic positioning, product portfolio, and growth prospects. Several leading brokerage firms, including BP Equities, Canara Bank Securities, and Geojit Securities, have also given a positive outlook on the IPO.

As of the second day of bidding, the public issue has been subscribed 3.84 times, with strong interest seen in the retail and non-institutional investor segments. The IPO’s allotment date is projected to be on 6th July 2024, with a likely listing date of 10th July 2024 on both BSE and NSE.

Key players involved in the Emcure Pharmaceuticals IPO include Axis Capital, Kotak Mahindra Capital, JP Morgan India, Jefferies India, and Link Intime India, who are managing the book build and listing processes.

Rachel Adams

Times News Global is a dynamic online news portal dedicated to providing comprehensive and up-to-date news coverage across various domains including politics, business, entertainment, sports, security, features, opinions, environment, education, technology and global. affairs. Our commitment lies in sharing news that is based on factual accuracy, credibility, verifiability, authority and depth of research. We pride ourselves on being a distinctive media organization, guided by the principles enshrined in Article 19 of the Universal Declaration of Human Rights. Made up of a team of ordinary people driven by an unwavering dedication to uncovering the truth, we publish news without bias or intimidation.