Emcure Pharmaceuticals, on August 19 filed its Draft Red Hearing Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) for its proposed initial public offer (IPO).
Market sources told Moneycontrol that the IPO size would be in the range of of Rs 4500 crore - Rs 5000 crore.
On October 22, 2019, Moneycontrol was the first to report that Emcure Pharma would pursue an internal rejig and then revive its listing plans
The initial public offering comprises a fresh issue of equity shares aggregating up to Rs. 1,100 crore and an offer for sale of up to 18,168,356 equity shares that include promoters - Satish Mehta selling up to 2,030,000 equity shares and Sunil Mehta aggregating up to 2,50,000 equity shares. Other selling shareholders include private equity investor Bain Capital, as well as certain individual selling shareholders.
The Pune-based company said it proposes to utilise net proceeds from fresh issue towards repayment of all or a portion of debt and general corporate purposes.
Emcure is ranked as the 12th largest pharmaceutical company in India and is the leader in gynaecology, blood related and HIV antivirals therapeutic areas, based on sales in India in the Financial Year 2021, according to CRISIL.
Also read: CarTrade IPO shares to debut tomorrow: What could be the listing premium?
Emcure with a differentiated product portfolio that includes orals, injectables and biologics, as well as an mRNA platform through which it is currently developing a COVID-19 vaccine, which has enabled it to reach a range of target markets across over 70 countries with a strong presence in Europe and Canada.
Axis Capital Limited, BofA Securities India Limited, Credit Suisse Securities (India) Private Limited, JM Financial Limited are the Global Co-Ordinators and Book Running Lead Managers and BOB Capital Markets Limited is the Book Running Lead Manager to the issue.