Emcure Pharma IPO Allotment Status

How to check Emcure IPO Allotment Status on BSE

This is a facility available to all mainboard IPOs, irrespective of who the registrar to the issue is. You can still access the allotment status on the website of BSE India as under. Visit the BSE link for the IPO allotment by clicking on the link below. 

https://www.bseindia.com/investors/appli_check.aspx 

Once you reach the page, here are the steps to follow.

• Under Issue Type – Select Equity Option
• Under Issue Name – Select Emcure Pharmaceuticals   from the drop down box
• Enter the Application Number exactly as in the acknowledgement slip
• Enter the PAN (10-digit alphanumeric) number
• Once this is done, you need to click on the Captcha to verify that you are not a robot
• Finally click on the Search Button

In the past, while checking the allotment status on the BSE website, it was necessary to input the PAN number and the application Number. However, now BSE has modified the requirements and it is sufficient if you enter any one of these parameters i.e., either the application / CAF number or the PAN number of the investor.

The IPO allotment status will be displayed on the screen in front of you informing about the number of shares of Emcure Pharmaceuticals   allotted into your demat account. It is always advisable to save a screenshot of the allotment status output for subsequently verifying with the demat account credits on or after 09th July 2024. The stock of Emcure Pharmaceuticals  will appear in the demat account (if allotted) under ISIN Number (INE168P01015).

Emcure IPO allotment date - July 08, 2024.

Checking Emcure Pharma IPO allotment status on Link Intime 

Here are the steps to follow. Visit the Link Intime registrar website for IPO status by clicking on the link below:

https://linkintime.co.in/initial_offer/public-issues.html

There are three things to remember. Firstly, you can just click on the hyper link given above and directly go to the IPO allotment checking page. The second option, in case you are not able to click on the link, is to copy the link and paste in your web browser. Thirdly, there also a way to access this page via the home page of Link Intime India Private Ltd (www.linkintime.co.in) by clicking on the Public Issues link displayed prominently on the home page. It all works the same and leads you to the same landing page.

Once you are on the landing page, the dropdown in front of you will only show the active IPOs and IPOs, so once the allotment status is finalized, you can select Emcure Pharmaceuticals   from the drop-down box. In the case of Emcure Pharmaceuticals IPO, the data access will be allowed late on 08th July 2024 or by middle of 09th July 2024. 

• There are 4 options available to you and you will find these 4 options on the above access page itself. You can either access the allotment status based on PAN or Application Number or DPID / Client ID combination or based on the combination of the bank account / IFSC code used to apply for the IPO. You can select any one of the options that is preferred and provide the details accordingly, as they are radio buttons.

• If you opt for the PAN Number access, then enter the 10 character income tax permanent account number (PAN). This is an alphanumeric code available either on your PAN card or on top of your income tax return. The PAN is a 10 character code issued by the Income Tax Department where the first 5 characters and the tenth character are alphabets while the sixth to ninth characters are numeric.

• The second option is to use the Application Number that you used while making an application for the IPO. The application number is available on the acknowledgement provided to you and you can use that as one of the options to access allotment status.

• The third option is to use the DPID-Client ID combination. Remember that here you have to enter the DP id and the demat client id together as one single continuous string. This DPID / Client ID combination is a numeric string for CDSL demat accounts while it is an alphanumeric string for NSDL demat accounts. This combination of DP ID / Client ID of your demat account will be available in your demat statement or you can also get it online from your online trading account or trading app downloaded on the smart phone.

• The fourth option is to query based on the combination of your bank account number and IFSC number and irrespective of how many bank accounts you have, only use the bank account used for this particular IPO application. Once you click on this option, you find two boxes. First, enter your bank account number as it is. Secondly, enter the 11-character IFSC code, which is available on your cheque book. The first 4 characters of the IFSC code are alphabets and the last 7 characters are numeric. IFSC is an abbreviation for Indian Financial System Code and is unique to each account.

• Finally, click on the Search button
In case, you have any issues with the output shown above, you can always register an investor query with Link Intime India Private Ltd. You can either send an email with all requisite details and the problem statement to ipo.helpdesk@linkintime.co.in or you can also call up on their phone (0)-81081-14949 an register the query after appropriately authenticating yourself digitally.

The IPO status with number of shares of Emcure Pharmaceuticals allotted will be displayed on the screen in front of you. You can take a screenshot of the output page for your records. The same can be verified with the demat account on 09th July 2024 or after that. The stock is expected to list on 10th July 2024 simultaneously on the NSE and the BSE. The only question now is, what determines chances of allocation in the IPO? It boils down to allocation quota and subscription levels.

Allocation quota for Emcure Pharmaceuticals IPO

The entire anchor allocation was made at the upper end of the price band of ₹1,008 per share. This includes the face value of ₹10 per share plus a share premium of ₹998 per share, taking the anchor allocation price to ₹1,008 per share. Let us focus on the anchor allotment portion ahead of the Emcure Pharmaceuticals IPO, which saw the anchor bidding opening and also closing on 02nd July 2024. Post the anchor allocation, here is how the overall allocation looked.

Data Source: Company RHP / BSE

Here it must be noted that the 57,79,850 shares allocated to the anchor investors on 02nd July 2024, were actually reduced from the original QIB quota; and only the residual amount would be available to QIBs in the IPO. That change has been reflected in the table above, with the QIB IPO portion reduced to the extent of the anchor allocation. As a result, the QIB quota has reduced from 48.98% before the anchor allocation to 19.31% after the anchor allocation. The overall allocation to QIBs includes the anchor portion, so the anchor shares allotted has been deducted from the QIB quota for the purpose of the public issue.

Subscription status of Emcure Pharma IPO

The table below captures the extent of oversubscription for each of the categories as well as the overall subscription for Emcure Pharmaceuticals  IPO at close.

Data Source: NSE / BSE

The response to the IPO of Emcure Pharmaceuticals  was quite strong overall, and the subscriptions were especially robust for the QIB and the HNI / NII portion. The subscriptions were also modest to strong for the retail portion. The overall subscription was 67.87X but the retail portion subscription was more modest at 7.21 times. The QIB portion got subscribed 195.83 times while the HNI / NII portion got subscribed 48.32 times. The Retail portion was subscribed  at just about 7.21 times, which is lower than the median for retail investors in similar sized IPOs.

The positive takeaway for retail investors from an allocation perspective is that SEBI new allocation norms tend to give weightage to ensuring that as many applicants as possible get at least one lot allocation in the IPO, before redistributing higher numbers. That enhances retail chances of getting allotment in this IPO, especially if more applications are put through all family members. Here the added advantage is the 7.21 times subscription in the retail portion.

Next steps after the closure of the Emcure Pharmaceuticals IPO

The issue opened for subscription on 03rd July 2024 and closed for subscription on 05th July 2024 (both days inclusive). The basis of allotment will be finalized on 08th July 2024 and the refunds will be initiated on 09th July 2024. In addition, the demat credits are expected to also happen on 09th July 2024 and the stock will list on 10th July 2024 on the NSE and the BSE. Emcure Pharmaceuticals will test the appetite for private sector new age pharma stocks in India. The credits to the demat account to the extent of shares allotted will happen by the close of 09th July 2024 under ISIN (INE168P01015).

Investors would do well to remember that the level of subscription is very material as it determines the chances of getting allotment. Normally, higher the subscription ratio, lower the chances of allotment and vice versa. In this case, the subscription levels have been above average in the IPO; both in the QIB segment and in the HNI / NII segment; although Retail has been below the average. Investors in the IPO need to assess their chances of allotment accordingly. The final status will be known once the basis of allotment is finalized and uploaded for you to check. You can apply the above allotment checking process flow after the basis of allotment is finalized.

About the Emcure Pharma IPO

The Emcure IPO was open from July 03rd, 2024 to July 05th, 2024; both days inclusive. The stock of Emcure Pharmaceuticals has a face value of ₹10 per share and the price band for the book building IPO has been set in the range of ₹960 to ₹1,008 per share.

The Emcure Pharma IPO will be a combination of a fresh issue of shares and offer for sale (OFS). The fresh issue brings in fresh funds into the company, but is also EPS and equity dilutive. The OFS is just a transfer of ownership; and hence neither EPS nor equity dilutive. The fresh issue portion of the IPO of Emcure Pharmaceuticals comprises the issue of 79,36,507 shares (79.37 lakh shares approximately), which at the upper price band of ₹1,008 per share will translate into a fresh issue size of ₹800.00 crore. 

The offer for sale (OFS) portion of the Emcure IPO comprises the sale / offer of 1,14,28,839 shares (114.29 lakh shares approximately), which at the upper price band of ₹1,008 per share will translate into an OFS size of ₹1,152.03 crore. The 114.29 lakh shares in the OFS is being offered by a mix of promoter shareholders and investor shareholders.

Out of the 114.29 lakh shares offered in the OFS, 17.39 lakh shares will be offered by the promoter shareholders; 10.46 lakh shares will be offered by the promoter group shareholders; 72.34 lakh shares by BC Investments IV Ltd; and the balance by other individual shareholders. Therefore, the total IPO of Emcure Pharmaceuticals will comprise of a fresh issue and an OFS of 1,93,65,346 shares (193.65 lakh shares approximately) which at the upper end of the price band of ₹1,008 per share aggregates to total issue size of ₹1,952.03 crore. The IPO of Emcure Pharmaceuticals will be listed on the NSE and the BSE on the IPO mainboard. The final issue figures could differ marginally.

The fresh funds will be used for repaying / prepaying some of its outstanding debts and partially for general corporate purposes. The promoters of the company are Satish Ramanlal Mehta, Sunil Rajnikant Mehta, Namita Thapar, and Samit Satish Mehta. The promoters currently have 98.90% stake in the company, which will get diluted post the IPO. The IPO will be lead managed by Kotak Mahindra Capital, Axis Capital, Jefferies India, and JP Morgan India; while Link Intime India Private Ltd will be the IPO registrar.