SEBI Gives Nod to Emcure Pharmaceuticals to Launch IPO

Emcure Pharmaceuticals has received market regulator SEBI’s nod for its IPO launch. The company had filed its DRHP on December 20, 2023. It aimed to be listed on both the stock exchanges, NSE and BSE.

About the Issue:

Emcure Pharmaceuticals receives a nod from SEBI to launch its IPO. The IPO consists of a fresh issue of shares worth Rs 800.00 crores and an offer for sale of 1.36 crore equity shares by promoters and existing shareholders. In the OFS, the selling shares include shares of promotor Satish Mehta and investor BC Investments IV Ltd. The company is backed by Bain Capital. Kotak Mahindra Capital, Jefferies India, Axis Capital, and JP Morgan India are the book-running lead managers to the issue. This highly anticipated IPO is an opportunity for investors to be a part of Emcure Pharmaceuticals’ growth journey. The proceeds of the fresh issue are aimed to be used towards payment of debt and general corporate purposes.

About the Company:

Emcure Pharmaceuticals is an Indian multinational pharmaceutical company headquartered in Pune. Its portfolio includes tablets, capsules, and injectables. The company is a major producer of HIV antivirals, as well as gynecology and blood therapeutic drugs. In 2014, Blackstone sold its 13% stake in Emcure to Bain Capital. Founded in 1981, the company has served worldwide for the past 43 years. Some key people of the company include its founder Satish Mehta who is also the current CEO and MD, and Sunil Mehta and Namita Thapar (Shark Tank fame) as Executive Directors.

Financial Performance

Conclusion

Emcure Pharmaceutical IPO, with a fresh issue of shares worth Rs 800.00 crores and an offer for sale of 1.36 crore equity shares plan on using it towards payment of debt and general corporate purposes.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.