In a significant move, Emcure Pharmaceuticals, supported by Bain Capital, is gearing up for its Initial Public Offering (IPO) beginning July 3. The IPO window will close on July 5, with anchor investor bidding slated for July 2, as stated in the Red Herring Prospectus (RHP).
The IPO consists of a fresh issuance of equity shares amounting to Rs 800 crore, along with an Offer of Sale (OFS) comprising 1.14 crore equity shares from promoters and current stakeholders. Among those divesting their shares are promoter Satish Mehta and BC Investments IV Ltd, a Bain Capital affiliate. Presently, Mehta owns a 41.85 percent stake in Emcure, while BC Investments holds 13.07 percent.
Proceeds from this new issue will be directed towards debt clearance and general corporate needs. Emcure Pharmaceuticals, based in Pune, specializes in the development, production, and global marketing of a diverse array of pharmaceutical products. Officially sanctioned by Sebi earlier this month, the IPO will be lead managed by Kotak Mahindra Capital, Jefferies India, Axis Capital, and JP Morgan India. The company’s shares are anticipated to list on the BSE and NSE by July 10.
