Emcure Pharma Shares Surge 31% on Debut
By Rediff Money Desk, New Delhi Jul 10, 2024 11:02
Emcure Pharmaceuticals Ltd shares debuted on the stock market with a strong gain of over 31% on Wednesday, driven by strong investor demand during its IPO.
![Emcure Pharma Shares Surge 31% on Debut](https://im.rediff.com/money/2022/dec/26pharma.jpg)
New Delhi, Jul 10 (PTI) Shares of Emcure Pharmaceuticals Ltd on Wednesday listed with a premium of over 31 per cent against the issue price of Rs 1,008.
The stock started the trade at Rs 1,325.05, up 31.45 per cent on both BSE and NSE.
Later, the company's stock zoomed 37.30 per cent to Rs 1,384 on BSE and 37.40 per cent to Rs 1,385 on NSE.
The company's market valuation stood at Rs 25,546.24 crore.
The initial public offering (IPO) of Bain Capital-backed Emcure Pharmaceuticals received 67.87 times subscription on the final day of the offer on Friday amid encouraging participation from institutional buyers.
The initial share sale had a price band of Rs 960-1,008 per share.
The IPO had a fresh issuance of equity shares worth Rs 800 crore and an offer of sale (OFS) of 1.14 crore shares worth Rs 1,152 crore at the upper end of the price band by promoters and existing shareholders.
This aggregated the total issue size to Rs 1,952 crore.
The Pune-based company is engaged in developing, manufacturing and globally marketing a broad range of pharmaceutical products across several major therapeutic areas.
The stock started the trade at Rs 1,325.05, up 31.45 per cent on both BSE and NSE.
Later, the company's stock zoomed 37.30 per cent to Rs 1,384 on BSE and 37.40 per cent to Rs 1,385 on NSE.
The company's market valuation stood at Rs 25,546.24 crore.
The initial public offering (IPO) of Bain Capital-backed Emcure Pharmaceuticals received 67.87 times subscription on the final day of the offer on Friday amid encouraging participation from institutional buyers.
The initial share sale had a price band of Rs 960-1,008 per share.
The IPO had a fresh issuance of equity shares worth Rs 800 crore and an offer of sale (OFS) of 1.14 crore shares worth Rs 1,152 crore at the upper end of the price band by promoters and existing shareholders.
This aggregated the total issue size to Rs 1,952 crore.
The Pune-based company is engaged in developing, manufacturing and globally marketing a broad range of pharmaceutical products across several major therapeutic areas.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 225663049
- IFL Enterprises
- 1.30 (+ 4.84)
- 67741813
- Vodafone Idea L
- 16.86 (+ 1.08)
- 55657527
- NCL Research
- 0.95 ( -4.04)
- 30696630
- Franklin Industries
- 3.74 (+ 3.60)
- 18178294
MORE NEWS
Auxilo Finserve Raises Rs 279 cr for Student...
Auxilo Finserve, an education-focused NBFC, secures Rs 279 crore funding from LeapFrog...
![Sugar Industry...](https://im.rediff.com/80-80/money/2017/jul/24sugar.jpg)
Sugar Industry Faces Issues Due to No MSP Hike:...
A federation official claims the sugar industry faces problems due to no MSP hike for...
![Sensex, Nifty Hit...](https://im.rediff.com/80-80/money/2021/may/14bse.jpg)
Sensex, Nifty Hit All-Time Highs: Market Update
Indian stock markets continue their upward trend, with Sensex and Nifty hitting new...