Express Pharma

Emcure Pharma receives SEBI nod for IPO

The company gears up for market debut with SEBI approval for Rs 800 Crore IPO

0 192

Emcure Pharmaceuticals has secured approval from the Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO). The company had initially submitted its Draft Red Herring Prospectus (DRHP) to SEBI in December 2023.

The IPO will include a fresh issuance of equity shares valued at Rs 800 crore, along with an Offer for Sale (OFS) of 1.36 crore equity shares by promoters and existing shareholders. The latest draft red herring prospectus, filed last week, outlines these details.

The capital raised from the fresh issue is earmarked for debt repayment and general corporate purposes, according to Emcure Pharmaceuticals.

 Emcure Pharmaceuticals specialises in developing, manufacturing, and globally marketing a diverse range of pharmaceutical products across several major therapeutic areas. The company is known for its strong research and development (R&D) focus.

Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JP Morgan India will serve as the book-running lead managers for the issue. The equity shares are planned to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).


- Advertisement -

Leave A Reply