Emcure Pharmaceuticals IPO To Open On July 3, Know Key Details

IPO:  Emcure Pharmaceuticals, which is supported by Bain Capital, is slated to start its initial public offering (IPO) on July 3. The initial sale of shares will end on July 5, and bidding will be opened to anchor investors for a day on July 2, according to Red Herring. Prospectus (RHP). The IPO consists of a new issue of equity shares worth Rs 800 crore and an offer for sale (OFS) of Rs 1.14 lakh crore equity shares by the promoters and existing shareholders.

Promoter Satish Mehta and investor BC Investments IV Ltd, a subsidiary of US-based private equity major Bain Capital, are among those selling shares in OFS. Satish Mehta presently holds a 41.85 percent stake in the company, while BC Investments holds a 13.07 percent stake.

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The proceeds from the new issue will be used to repay debt and for general corporate purposes. Pune-based Emcure Pharmaceuticals is engaged in developing, manufacturing, and marketing a wide range of pharmaceutical products globally across numerous key therapeutic areas. Earlier this month, the company received the green light from Sebi to launch an initial share sale.

Kotak Mahindra Capital, Jefferies India, Axis Capital, and JP Morgan India are the lead book-running managers on this issue. The company's shares are anticipated to be listed on the BSE and NSE on July 10.

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(With PTI's Input)