Bain Capital backed Emcure Pharma files draft IPO papers with SEBI
New Delhi: Bain Capital-backed Emcure Pharmaceuticals has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial share sale.
The initial public offering (IPO) comprises fresh issuance of equity shares worth Rs 1,100 crore and an offer of sale of 18,168,356 shares by promoters and existing shareholders, according to the draft red herring prospectus (DRHP).
As a part of the OFS, promoters Satish Mehta and Sunil Mehta will offload 20.30 lakh and 2.5 lakh shares, respectively. Investor BC Investments IV Ltd will divest 99.5 lakh shares.
Currently, Satish Mehta and Sunil Mehta hold 41.92 per cent and 6.13 per cent stake, respectively, in the company, while BC Investments owns 13.09 per cent.
The company is considering a pre-IPO placement aggregating up to Rs 200 crore. If such placement is completed, the fresh issue size will be reduced.
Proceeds of the fresh issue will be used towards the payment of debt and for general corporate purposes.
Emcure Pharmaceuticals is engaged in developing, manufacturing and globally marketing a broad range of pharmaceutical products across several major therapeutic areas. The company has a presence in 70 markets globally.
The Pune-based company is currently developing an RNA vaccine for COVID-19 through its subsidiary Gennova Biopharmaceuticals.
Axis Capital, JM Financial, BOB Capital Markets, BofA Securities India Limited, Credit Suisse Securities (India) Private Limited have been appointed as merchant bankers to advise the company on the IPO.
The equity shares of the company will be listed on the BSE and NSE.
Read also: Emcure Pharma eyes to be among top 5 drug firms: Official
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.