The promoters and current shareholders of Emcure Pharma are offering 1,14,28,839 equity shares for sale in addition to a new share sale valued at Rs 800 crore. This is the company’s major stake sale.
On Wednesday, July 3, bids will be accepted for the Emcure Pharma IPO, which is supported by Namita Thapar. The corporation is selling its shares for between Rs 960 and Rs 1,008 each. Until Friday, July 5, investors may submit an application for a minimum of 14 equity shares and their multiples thereafter.
Established in 1981, Emcure Pharmaceuticals is an Indian pharmaceutical enterprise that engages in the research, development, production, and international distribution of an extensive array of pharmaceutical products spanning multiple important therapeutic domains. There are thirteen production sites for Emcure Pharmaceuticals in India.
Emcure Pharma’s primary stake sale comprises an offer-for-sale (OFS) of 1,14,28,839 equity shares by its promoters and current shareholders, together with a new share sale of Rs 800 crore. With its IPO, the business hopes to raise a total of Rs 1,951.04 crore at the upper end of the pricing range.
The net proceeds of the offering will be applied to general corporate purposes and the repayment and/or prepayment of all or a portion of the company’s outstanding borrowings. The selling stockholders will get the proceeds from the OFS. The issue’s anchor book opens on Tuesday, July 2.
MAT September 2023 saw Emcure Pharma rated 13th among pharmaceutical firms in India in terms of domestic revenue and fourth in terms of market share in its covered markets. Furthermore, as of September 2023, it is the top pharmaceutical company in the fields of HIV antiviral therapy and gynecology.
For the fiscal year that concluded on March 31, 2024, Emcure Pharma recorded sales of Rs 6,715.24 crore and a net profit of Rs 527.58 crore. For the fiscal year 2022–2023, the company’s revenue was Rs 6,031.72 crore, while its net profit was Rs 561.85 crore.
Emcure Pharma has five research locations in India and employed 552 scientists as of September 30, 2023. They submitted more than 1,800 documents worldwide, 204 of which were filed in the EU and 133 in Canada. They filed 102 drug master files, had 33 ongoing patent applications, and had 201 awarded patents.
Emcure Pharma has set aside 1,08,900 shares for its qualified staff members, who will receive a 90-rupee discount per share. Qualified institutional bidders (QIBs) will get 50% of the offering, with non-institutional investors receiving 15% of the net offer. Retail investors will receive the remaining 35% of the net offer.
The book running lead managers of the Emcure Pharma IPO are Kotak Mahindra Capital Company, Axis Capital, JP Morgan India, and Jefferies India. The issue’s registrar is Link Intime India. The company’s shares will be listed on the BSE and NSE, with a tentative listing date of Wednesday, July 10.
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