Emcure Pharma gets Sebi approval for IPO: What we know - Hindustan Times
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Emcure Pharma gets Sebi approval for IPO: What we know

Jun 20, 2024 02:23 PM IST

The IPO includes fresh equity sale worth ₹800 crore and an OFS of 1.36 crore equity shares by promoters and existing shareholders.

Emcure Pharma has received Sebi's nod for the IPO. The company is likely to launch the issue in the next two months. The IPO includes fresh equity sale worth 800 crore and an OFS of 1.36 crore equity shares by promoters and existing shareholders, it was reported.

Net proceeds from the IPO will be used by the company for fresh issue for payment of debt and general corporate purposes.
Net proceeds from the IPO will be used by the company for fresh issue for payment of debt and general corporate purposes.

In the OFS, those selling shares include promoter Satish Mehta and investor BC Investments IV Ltd, an affiliate of US-brd private equity major Bain Capital, as per Economic Times. Net proceeds from the IPO will be used by the company for fresh issue for payment of debt and general corporate purposes.

Pune-brd firm Emcure Pharmaceuticals is backed by Bain Capital. The company is engaged in developing, manufacturing, and globally marketing a broad range of pharmaceutical products across several major therapeutic areas.

Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JP Morgan India are the book-running lead managers to the issue.

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