Namita Thapar, executive director of Emcure Pharmaceuticals Ltd, on Wednesday posted an emotional message on social media platform X (formerly Twitter), congratulating the company’s staff after it was listed at a 31 per cent price premium.
In the X post, Namita Thapar said: “Emotional morning today… we got listed at NSE 🙂 68 times oversubscribed, listed at 31% price premium but my Mirza Ghalib shayari sums up my feelings… congratulations Team Emcure !”
Her post also carries a video.
Emotional morning today… we got listed at NSE 🙂 68 times oversubscribed, listed at 31% price premium but my Mirza Ghalib shayari sums up my feelings… congratulations Team Emcure ! pic.twitter.com/wQhmfmOjyq
— Namita (@namitathapar) July 10, 2024
The Pune-based pharma company’s stock opened at ₹1,325.05, up 31.45 per cent on both the BSE and the NSE on Wednesday. The stock closed at a premium of over 35 per cent against the issue price of ₹1,008.
During the trading session, the stock zoomed 37.30 per cent to ₹1,384 on the BSE and 37.40 per cent to ₹1,385 on the NSE.
In volume terms, 12.62 lakh shares of Emcure Pharmaceuticals were traded on the BSE and 140.08 lakh shares on the NSE.
The company’s market valuation stood at ₹25,695.63 crore on Wednesday.
Emcure Pharmaceuticals IPO
Bain Capital-backed Emcure Pharmaceuticals’ ₹1,952 crore initial public offering (IPO) had received 67.87 times subscription on the final day of the offer on Friday.
The initial share sale had a price band of ₹960-1,008 per share.
The IPO included a fresh issuance of equity shares worth ₹800 crore and an offer of sale (OFS) of 1.14 crore shares worth ₹1,152 crore at the upper end of the price band by promoters and existing shareholders.
Bain Capital offloaded nearly a third of its 13.07 per cent stake in the offer.
Emcure is the first drugmaker to go public in 2024.
Proceeds of the IPO will be used towards payment of debt and for general corporate purposes.
Emcure Pharmaceuticals’ operations involve developing, manufacturing and globally marketing a broad range of pharmaceutical products.