Bain Capital-Backed Emcure Pharma To Float ₹1,952-Crore IPO On July 3

Bain Capital-Backed Emcure Pharma To Float ₹1,952-Crore IPO On July 3

The initial share sale will be available for public subscription during July 3-5 and the bidding for anchor investors will open for a day on July 2, the company announced.

PTIUpdated: Friday, June 28, 2024, 05:25 PM IST
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(L-R) - Mr. Akshay Sahai (Vice President, Healthcare Investment Banking, Jefferies India Private Limited); Mr. V. Jayasankar (Managing Director and Member Of The Board, Kotak Mahindra Capital Company Limited); Mr. Piyush Nahar (EVP, Corporate Development, Strategy & Finance, Emcure Pharmaceuticals Limited); Ms. Namita Thapar (Whole-time Director, Emcure Pharmaceuticals Limited); Mr. Satish Mehta (Managing Director and Chief Executive Officer, Emcure Pharmaceuticals Limited); Mr. Samit Mehta (Whole-time Director, Emcure Pharmaceuticals Limited); Mr. Vikas Thapar (President, Corporate Development, Strategy & Finance, Emcure Pharmaceuticals Limited); Mr. Tajuddin Shaikh (Chief Financial Officer, Emcure Pharmaceuticals Limited); Mr. Kuunal Mallkan (Vice President, Equity Capital Markets, Axis Capital Limited); Mr. Abhinav Bharti (Head of India Equity Capital Markets, J.P. Morgan India Private Limited) |

Bain Capital-backed Emcure Pharmaceuticals on Friday said it has fixed a price band of Rs 960 to Rs 1,008 per share for its Rs 1,952-crore Initial Public Offering (IPO).

The initial share sale will be available for public subscription during July 3-5 and the bidding for anchor investors will open for a day on July 2, the company announced.

The IPO comprises fresh issuance of equity shares worth Rs 800 crore and an Offer For Sale (OFS) of 1.14 crore equity shares to the tune of Rs 1,152 crore, at the upper end of the price band, by promoters and existing shareholders. This aggregates the total public size to Rs 1,952 crore.

The IPO comprises fresh issuance of equity shares worth Rs 800 crore and an Offer For Sale (OFS) of 1.14 crore equity shares to the tune of Rs 1,152 crore, at the upper end of the price band, by promoters and existing shareholders. This aggregates the total public size to Rs 1,952 crore. | Freepik

Market Cap at Rs 19,000 Crore

The IPO comprises fresh issuance of equity shares worth Rs 800 crore and an Offer For Sale (OFS) of 1.14 crore equity shares to the tune of Rs 1,152 crore, at the upper end of the price band, by promoters and existing shareholders. This aggregates the total public size to Rs 1,952 crore.

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.

Proceeds of the fresh issue will be used towards payment of debt and for general corporate purposes.

Brokerage houses have pegged the company's market capitalisation to over Rs 19,000 crore post-issue.

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.

35% For Retail Investor

Employee portion has been reserved up to 108,900 equity shares in the IPO.

Besides, half of the issue size has been reserved for qualified institutional investors (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.

Besides, half of the issue size has been reserved for qualified institutional investors (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. | Pexels

Besides, half of the issue size has been reserved for qualified institutional investors (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.

Further, investors can bid for a minimum of 14 shares and in multiples of 14 shares thereafter.

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.

Earlier this month, the company received Sebi's go-ahead to float initial share sale.

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