Emcure Pharma aims to raise USD 400- USD 500 million from IPO planned for next year
India's pharmaceuticals market is expected to reach USD 130 billion in 2030 from USD 50 billion currently, and deal-making in the sector is booming.;
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Mumbai: India’s Emcure Pharmaceuticals aims to raise $400-$500 million from an initial public offering planned for next year, two sources said, reviving listing plans the drugmaker shelved in early 2022 as the Ukraine war roiled global markets.
Emcure, backed by private equity firm Bain Capital, has hired investment banks JP Morgan, Jefferies and Kotak for the IPO, and is targeting a valuation of about $3 billion, both sources with direct knowledge of the matter said.
Bain, which owns 13% in the company, plans to sell a part of its stake, the first source said.
Bain and Jefferies declined to comment while Emcure, Kotak and JP Morgan did not respond to requests for comment.
Emcure is among companies looking to capitalise on the world’s most populous country’s increasing need for medicines and a growing health awareness among citizens.
India’s pharmaceuticals market is expected to reach $130 billion in 2030 from $50 billion currently, and deal-making in the sector is booming.
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