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Shares of Emcure Pharmaceuticals Ltd. are trading lower on Monday, January 12, as the company saw the expiry of its six-month and beyond shareholder lock in today.
According to Nuvama Alternative, around 38 million shares, or nearly 20% of the company's outstanding equity, will become eligible for trading following the expiry of the lock in.
Based on Friday's closing price, these shares are valued at around ₹5,862 crore.
The expiry of the shareholder lock in, however, does not necessarily imply that all these shares will be sold in the open market. It only means they are now eligible to be traded.
ALSO READ | Shareholder Lock-In: Wakefit, ICICI Pru AMC among shares worth over ₹21,000 crore freeing up this week
Emcure Pharmaceuticals had reported its second quarter results in November, posting a 25% year-on-year rise in consolidated net profit to ₹243 crore.
Revenue for the quarter grew 13.4% year-on -year to ₹2,269.8 crore, led by strong performance across key therapeutic segments and sustained momentum in both domestic and international markets.
According to the September quarter shareholding pattern, promoters held a 77.88% stake in the company, marginally above the minimum public shareholding requirement of 75%.
Seven analysts currently track Emcure Pharmaceuticals, of which five have a 'Buy' recommendation, while one has a 'Neutral' rating.
Shares of Emcure Pharmaceuticals ended 1.37% higher on Friday at ₹1,542.60. The stock has gained 53% from its IPO price of ₹1,008.
According to Nuvama Alternative, around 38 million shares, or nearly 20% of the company's outstanding equity, will become eligible for trading following the expiry of the lock in.
Based on Friday's closing price, these shares are valued at around ₹5,862 crore.
The expiry of the shareholder lock in, however, does not necessarily imply that all these shares will be sold in the open market. It only means they are now eligible to be traded.
ALSO READ | Shareholder Lock-In: Wakefit, ICICI Pru AMC among shares worth over ₹21,000 crore freeing up this week
Emcure Pharmaceuticals had reported its second quarter results in November, posting a 25% year-on-year rise in consolidated net profit to ₹243 crore.
Revenue for the quarter grew 13.4% year-on -year to ₹2,269.8 crore, led by strong performance across key therapeutic segments and sustained momentum in both domestic and international markets.
According to the September quarter shareholding pattern, promoters held a 77.88% stake in the company, marginally above the minimum public shareholding requirement of 75%.
Seven analysts currently track Emcure Pharmaceuticals, of which five have a 'Buy' recommendation, while one has a 'Neutral' rating.
Shares of Emcure Pharmaceuticals ended 1.37% higher on Friday at ₹1,542.60. The stock has gained 53% from its IPO price of ₹1,008.
