Emcure Pharmaceuticals Limited
Promoters Satish Ramanlal Mehta · Sunil Rajanikant Mehta
Against an issue price of ₹1,008. Split- and bonus-adjusted official closes — a past move, never a forecast.
Emcure Pharmaceuticals Limited raised ₹2,500 crore through a mainboard initial public offer.
The filing places it in Pharmaceuticals & Biotechnology and names two promoters: Satish Ramanlal Mehta and Sunil Rajanikant Mehta.
The book was open from 3 July 2024 to 5 July 2024.
The issue was priced at ₹1,008 a share, from a band of ₹960 to ₹1,008.
Of the offer, ₹801 crore is a fresh issue of shares — money that goes to the company — and ₹1,152 crore is an offer for sale, which goes to existing shareholders selling down. Valued at the final issue price.
The issuer reported the offer subscribed 68.0 times the shares on offer. That is its own final figure, filed with the exchange after the book closed — not a reading we took while bidding was open.
The shares listed on 10 July 2024.
The last official close on file is ₹2,009 (21 September 2026), which is 99.3% above the issue price.
It now trades as EMCURE, and its filed financials are on its company page.
Shares sold in the issue at ₹1,008 last closed at ₹2,009.3.
See EMCURE’s filed financials and price history →Official exchange closes, restated for splits, bonuses and rights issues since listing. A record of past price movement, not a forecast.
Share counts converted at ₹1,008, the final issue price.
- How it was priced
- Book-built — the price was discovered inside a band from the bids received
- Listing sought at
- BSE And NSE
- Designated exchange
- NSE
- Discount
- ₹90 a share
- Registered office
- Western India
- Company website
- www.emcure.com
- Registrar
- Link Intime India Private Limited
- Lead managers
- Kotak Mahindra Capital Company Limited
- Axis Capital Limited
- Jefferies India Private Limited
- J.P. Morgan India Private Limited
- Bidding opens3 Jul 2024
- Bidding closes5 Jul 2024
- Basis of allotmentnot published
Not published in the exchange feeds we ingest — we do not estimate it.
- Listing10 Jul 2024
This is the issuer’s own final figure, filed with the exchange once bidding had closed — not a reading we took while the book was open. The exchange publishes only a running cumulative figure and no history, so for an issue nobody polled live this filing is the only account of the book that exists. It covers the whole offer and carries no breakdown by category and no timestamp.
- Anchor investors29.8%57,79,850 sh
- Qualified institutional buyers19.9%38,53,234 sh
- Non-institutional investors14.9%28,89,926 sh
- Retail individual investors34.8%67,43,160 sh
- Reserved portion0.6%1,08,900 sh
No part of the offer was set aside for market maker or other.
The portion of the offer set aside for each category before bidding opened, as the issuer filed it. The anchor allocation is filed as its own line rather than inside the institutional one, so these add up to the whole offer. Shares as filed; the percentages are computed against the offer's own share count.
We did not poll this issue while its book was open. The exchange publishes only the current cumulative figure and no history, so a subscription series cannot be reconstructed after an issue closes.
We have not extracted an anchor allotment list for this issue.
- All other pre-issue capitalSEBI ICDR 2018 Reg. 17 — all other pre-issue capital, 6 months from allotment10 Jan 2025already free
- Promoters' minimum contributionSEBI ICDR 2018 Reg. 16(1)(a) — promoters' minimum contribution, 18 months from allotment10 Jan 2026already free
Computed from the SEBI ICDR 2018 lock-in rules, not disclosed by the issuer or the exchange. The regulation counts from the date of allotment, which no feed we ingest publishes, so these are counted from the listing date and fall at most two to three business days later than the true expiry.
Every offer document must set out the reasoning behind its own price: what the company earned in the years before it came to market, and what multiple of those earnings it is asking for. This is that chapter — the issuer’s argument for its price, not our assessment of it.
| Year | Basic | Diluted | Weight |
|---|---|---|---|
| FY2022 | ₹36.62 | ₹36.62 | 1 |
| FY2023 | ₹29.42 | ₹29.42 | 2 |
| FY2024 | ₹27.54 | ₹27.54 | 3 |
Figures as printed in the offer document's "Basis for Offer Price" chapter. A record of the case the issuer made for its own price, not our valuation of it.
Everything we extracted from this issue's offer document is the pricing justification rather than the restated statements — it is shown under how the offer was priced. The restated financial statements themselves have not been extracted for this issue.
We have not extracted this section from the offer document for this issue yet. It is read from the abridged prospectus, and several offer documents are served as .zip archives or as scanned pages with no text layer.
The offer document must name the listed companies the issuer considers comparable, and print their valuation figures beside its own. This is that list — the issuer’s choice of comparison, not ours.
| Company | P/E | P/B | RoNW | EPS | Income |
|---|---|---|---|---|---|
| Alkem Laboratories Limited | 33.9 | — | 17.4% | 150.19 | ₹1,26,676 cr |
| Cipla Limited | 30.1 | — | 15.4% | 51.05 | ₹2,57,741 cr |
| Dr. Reddy's Laboratories Limited | 17.9 | — | 19.7% | 335.22 | ₹2,80,111 cr |
| Torrent Pharmaceuticals Limited | 57.7 | — | 24.2% | 48.94 | ₹1,07,280 cr |
The issuer's own figures as printed at the head of the same table — its claim about itself, on the same basis as its claims about the companies below.
Figures as PRINTED by the issuer in its own offer document. The comparison set is the issuer's choice, not ours.
| Firm | Issues | Typical listing move | Below issue @30d | @90d | @180d |
|---|---|---|---|---|---|
Axis Capital Limited 2021 – 2026 | 85 18 measurable | +11.7% | 4 of 14 | 1 of 5 | 2 of 8 |
Jefferies India Private Limited 2022 – 2026 | 25 4 measurable | +21.1% | 2 of 5 | — | — |
J. P. Morgan India Private Limited 2022 – 2026 | 23 4 measurable | +2.6% | 2 of 4 | 0 of 1 | 0 of 1 |
Kotak Mahindra Capital Company 2021 – 2026 | 64 15 measurable | +16.6% | 3 of 14 | 1 of 3 | 2 of 4 |
| Firm | Issues | Typical listing move | Below issue @30d | @90d | @180d |
|---|---|---|---|---|---|
Link Intime India Private Limited 2021 – 2026 | 175 14 measurable | +10.2% | 3 of 13 | 1 of 8 | 0 of 4 |
A count of what happened to the other issues each firm was named on, computed from exchange closes. Not a rating, not a ranking, and not a view on the firm.
- Prospectus· PDF · exchange archive8 Jul 2024
- Draft red herring prospectus (DRHP)· PDF · exchange archive16 Dec 2023
- Draft red herring prospectus (DRHP)· ZIP · exchange archive18 Aug 2021
- Draft red herring prospectus (DRHP)· ZIP · exchange archive26 Jun 2013
- In-principle approval (XBRL)· XML · exchange archive
- Listing filing (XBRL)· XML · exchange archive
Filed with SEBI and the exchanges by the issuer. These are the source for every figure on this page.
Compiled from NSE and SEBI offer documents and exchange feeds. A description of the issue and of the bids received — not investment advice, and not a view on whether to apply. No grey-market premium, no allotment lookup and no listing-gain estimate is published here.