India's Emcure Pharmaceuticals has filed draft papers with the market regulator for an initial public offering, a filing showed, making it the latest company to tap capital markets in a fund-raising frenzy. A source with direct knowledge of the matter told Reuters the offering could be worth up to 50 billion rupees ($671.89 million). The offering will consist of a fresh issue of shares worth 11 billion rupees and a sale of 18.2 million shares by existing shareholders, including U.S. private equity firm Bain Capital, the filing dated Wednesday showed.