Macleods Pharma has received capital markets regulator Sebi’s go ahead to raise funds through Initial Public Offerings (IPO).
The firm, which filed its preliminary IPO papers with Sebi between December 2021 and March 2022, obtained Sebi’s observations during 17th to 20th May, an update with Sebi showed recently.
In Sebi’s parlance, its observation implies its go-ahead to launch IPO.
Going by the draft papers, Macleods Pharma’s initial share sale is entirely an Offer For Sale (OFS) of up to 6.05 crore shares by promoters.
Macleods is engaged in developing, manufacturing and marketing a wide range of formulations across several major therapeutic areas including anti-infectives, cardiovascular, anti-diabetic, dermatology and hormone treatment.
Edits by EP News Bureau