Bain Capital-backed Emcure Pharmaceuticals is set to launch its Initial Public Offering (IPO) on July 3.
The initial share sale will conclude on July 5 and the bidding for anchor investors will open for a day on July 2, according to the Red Herring Prospectus (RHP).
Emcure Pharma IPO Size
The IPO comprises fresh issuance of equity shares worth Rs 800 crore and an Offer of Sale (OFS) of 1.14 crore equity shares by promoters and existing shareholders.
Those selling shares in the OFS include promoter Satish Mehta and investor BC Investments IV Ltd, an affiliate of US-based private equity major Bain Capital.
Currently, Satish Mehta holds a 41.85 per cent stake in the company and BC Investments owns a 13.07 per cent stake.
Emcure Pharma IPO Objective
Proceeds of the fresh issue will be used towards payment of debt and for general corporate purposes.
The Pune-based firm Emcure Pharmaceuticals is engaged in developing, manufacturing, and globally marketing a broad range of pharmaceutical products across several major therapeutic areas.
Earlier this month, the company received Sebi’s go-ahead to float the initial share sale.
Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JP Morgan India are the book-running lead managers to the issue. The equity shares of the company are expected to list on the BSE and NSE on July 10.
What Is an IPO?
Initial Public Offering is the process through which a private company offers shares to the public for the first time, thereby becoming a publicly traded company.
Why do Companies Launch IPO?
IPO allows the company to raise capital from public investors. IPOs in India are regulated by the Securities and Exchange Board of India (Sebi) and typically involve several steps including filing a draft offer document to finally listing the shares on a stock exchange like the Bombay Stock Exchange (BSE) or the National Stock Exchange (NSE).
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