Emcure Pharma Plans Rs 4,000 Crore IPO

[email protected]05 Oct, 2021News

Pune-based Emcure Pharmaceuticals Limited, the 12th largest pharmaceutical company in India, has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). Market sources say the company is planning an IPO for about Rs 4,000 crore, though it hasn't finalised the date of launching the issue. The IPO will include a fresh issue of equity shares aggregating up to Rs 1,100 crores and an offer for sale aggregating up to 18,168,356 equity shares from the promoters. This includes promoters Satish Mehta selling upto 2,030,000 equity shares and Sunil Mehta aggregating upto 2,50,000 equity shares. Other selling shareholders include private equity investor Bain Capital. Private equity firm Bain Capital owns about 13% stake in Emcure.