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Emcure Pharma IPO
Price Band
₹960.0–1008.0
Issue Size
₹1952.03 Cr
Lot Size
14 shares
Min Investment
₹14,112
GMP
+₹300.0 (29.76%)
Issue Price
₹1008.0
Subject to Sauda
₹3200
Paid only if allotted
Emcure Pharma IPO AI Summary
- Emcure Pharma IPO is listed on BSE, NSE in the Pharmaceuticals sector.
- Price band: ₹960.0–₹1008.0 per share, lot size 14 shares (min. investment ₹14,112).
- Subscription window: 03 Jul–05 Jul 2024, listing on 10 Jul 2024.
- Current GMP is +₹300.0 (29.76%), an estimated listing price of ₹1308 — unofficial and can change daily.
Emcure Pharmaceuticals Limited is a well-established player in the Indian pharmaceutical sector with a strong market presence and growth potential. The IPO aims to strengthen its financial position and support further growth initiatives.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Emcure Pharma IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 05 Jul 2024 — not a current signal.
18 of 18 reviewers say Positive
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Emcure Pharma IPO Grey Market Premium (GMP) Today
GMP
+₹300.0
GMP %
+29.76%
Est. Listing
₹1308.0
Updated: 25 Jul 2026 14:05
About the Company
Incorporated in 1981, 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 its 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.
Company Financials (₹ Cr)
As of 2024-03-31
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 7,806.16 | 6,672.53 | 6,063.47 |
| Total Income | 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 and Surplus | 2,722.40 | 2,293.77 | 1,791.03 |
| Total Borrowing | 2,091.94 | 2,202.42 | 2,102.19 |
Key Ratios
EPS
₹29.17
NAV
₹163.22
ROE
16.90%
ROCE
19.37%
RoNW
16.87%
P/B Value
6.18
P/E Ratio
34.55
Market Cap
₹19029.89 Cr
PAT Margin
7.86%
Debt/Equity
0.67
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| J. B. Chemicals & Pharmaceuticals Limited | 188.37 | 18.9% | 50.49 | 35.66 | 34.85 |
| Abbott India Ltd. | 1740.71 | 32.48% | 47.43 | 565.28 | 565.28 |
| Mankind Pharma Limited | 233.73 | 20.43% | 45.3 | 47.75 | 47.68 |
| Torrent Pharmaceuticals Ltd. | 202.57 | 24.15% | 57.74 | 48.94 | 48.94 |
| Alkem Laboratories Ltd | 862.46 | 17.41% | 33.86 | 150.19 | 150.19 |
| Cipla Ltd. | 330.78 | 15.43% | 30.1 | 51.05 | 51.01 |
| Dr. Reddy's Laboratories Limited | 1693.75 | 19.74% | 17.93 | 335.22 | 335.59 |
| Emcure Pharmaceuticals Limited This IPO | 163.22 | 21.27% | — | 27.54 | 27.54 |
Promoters
Satish Mehta and Sunil Mehta
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Repayment and/or prepayment of all or a portion of certain outstanding borrowings availed by our Company 800.00 2 General corporate purposes 41.14
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹6,031.72 Cr for the year ended 31 Mar 2023, increasing to ₹6,715.24 Cr by 31 Mar 2024. This indicates a positive growth trend in revenue over the period.
Profit Trend
Profit After Tax was ₹561.85 Cr for the year ended 31 Mar 2023, slightly decreasing to ₹527.58 Cr by 31 Mar 2024. However, it is important to note that this is a full fiscal year figure, allowing for a direct comparison.
Valuation
Emcure Pharmaceuticals Limited has an implied P/E ratio of 34.55 at the issue price, compared to peers trading at P/E ratios ranging from 17.93 to 57.74.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an indicator of the expected listing price of an IPO before it officially lists on the stock exchange. A higher GMP suggests strong demand and positive sentiment among investors.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's growth prospects, market position, and financial health.
Who May Want to Wait
Investors who prefer stable returns and are risk-averse may want to consider avoiding IPOs like this, which can be subject to market fluctuations.
IPO Timeline, Explained
The IPO process involves several key dates: the issue opens on July 3, 2024, and closes on July 5, 2024. Allotment of shares is expected by July 8, 2024, with the listing date set for July 10, 2024.
Listing Gains — The Risk
Listing-day gains can be unpredictable and are influenced by market sentiment, demand for the stock, and overall market conditions. Investors should be aware that while high GMP can indicate potential gains, it does not guarantee profits.
This evaluation is generated from Emcure Pharma's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Emcure Pharma IPO GMP today?
Emcure Pharma IPO GMP today is +₹300.0 (29.76%), indicating an estimated listing price of ₹1308. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Emcure Pharma IPO?
The price band of Emcure Pharma IPO is ₹960.0–₹1008.0 per share.
When does Emcure Pharma IPO open and close?
Emcure Pharma IPO opens on 03 July 2024 and closes on 05 July 2024.
When does Emcure Pharma IPO list on the stock exchange?
Emcure Pharma IPO listed on 10 July 2024 at ₹1308.0.
What is the lot size for Emcure Pharma IPO?
The lot size for Emcure Pharma IPO is 14 shares, requiring a minimum investment of ₹14,112.
What is the price band for the Emcure Pharma IPO?
The price band for the Emcure Pharma IPO is ₹960 to ₹1008.
What is the minimum investment required?
The minimum investment required is ₹14,112.
What is the lot size for the IPO?
The lot size for the Emcure Pharma IPO is 14 shares.
When is the listing date?
The listing date for the Emcure Pharma IPO is July 10, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of an IPO before it officially lists.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
03 Jul 2024
Close
05 Jul 2024
Allotment
08 Jul 2024
Listing
10 Jul 2024
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