Emcure Pharma set to launch IPO on July 3
Emcure Pharmaceuticals, backed by Bain Capital, is set to float its Initial Public Offering (IPO) on July 3. The initial share sale will run until July 5, with bidding for anchor investors opening on July 2, as detailed in the Red Herring Prospectus (RHP).
The IPO includes a fresh issuance of equity shares totaling Rs 800 crore and an Offer for Sale (OFS) of 1.14 crore equity shares by promoters and existing shareholders.
According to PTI, those selling shares in the OFS include promoter Satish Mehta and investor BC Investments IV Ltd, an affiliate of US-based private equity major Bain Capital.
Currently, Satish Mehta holds a 41.85 per cent stake in the company and BC Investments owns a 13.07 per cent stake.
Proceeds of the fresh issue will be used towards payment of debt and for general corporate purposes.
The Pune-based firm Emcure Pharmaceuticals is engaged in developing, manufacturing, and globally marketing a broad range of pharmaceutical products across several major therapeutic areas.
Earlier this month, the company received Sebi’s go-ahead to float the initial share sale.
Read also: Emcure Pharma receives SEBI nod to float IPO
Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JP Morgan India are the book-running lead managers to the issue. The equity shares of the company are expected to list on the BSE and NSE on July 10.
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