Emcure Pharmaceuticals is set to launch its IPO on July 3, 2024, closing on July 5. The IPO aims to raise ₹1,952 crore, with shares priced between ₹960 and ₹1008 each. The offering includes a fresh issue of 7.9 million shares, raising ₹800 crore, and an offer for sale (OFS) of 11.4 million shares worth ₹1,152.03 crore.
Know more about the IPO listing and review here: Emcure Pharmaceuticals IPO Review
Namita Thapar, one of Emcure’s promoters, will sell 12.68 lakh shares through the OFS, potentially earning ₹128 crore at the upper price band of ₹1008. She originally acquired these shares at a weighted average price of ₹3.44 each, resulting in a return of nearly 294 times her investment. Thapar owns 63.39 lakh shares, or 3.5% of the company, before the IPO.
Other promoters, including Satish Ramanlal Mehta, Sunil Rajanikant Mehta, and Samit Satish Mehta, will also offload shares. Satish Ramanlal Mehta, holding 41.85% of the company, will sell up to 4.2 lakh shares. Samit Satish Mehta will sell 10,000 shares, and Sunil Rajanikant Mehta will sell 40,000 shares. Bain Capital’s BC Investments IV Limited will also reduce its stake, selling 7.23 million shares from its 23.67 million shares, potentially raising ₹729.2 crore.
Employees have a reserved portion of 1,08,900 shares. The IPO aims to use the raised funds for debt repayment and general corporate purposes. Emcure Pharmaceuticals, established in 1981, operates 13 manufacturing facilities in India and has a presence in over 70 countries. The company is a major player in the gynecology and HIV antiviral therapeutic segments in India. The IPO’s allotment status will be finalized on July 8, with shares expected to list on the NSE and BSE on July 10.
