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Emcure Pharma, backed by Namita Thapar, is set to open its IPO for bidding on July 3, offering shares priced between Rs 960 and Rs 1,008 each. Investors can subscribe for a minimum of 14 shares and in multiples thereof until July 5.
The IPO consists of a fresh share sale worth Rs 800 crore and an offer-for-sale (OFS) of 1,14,28,839 equity shares by promoters and existing shareholders. At the upper end of the price band, the IPO aims to raise up to Rs 1,951.04 crore.
The proceeds will be used for debt repayment and general corporate purposes. The anchor book opens on July 2.
Founded in 1981, Emcure Pharma is an Indian pharmaceutical company that develops, manufactures, and globally markets a wide range of pharmaceutical products. The company has 13 manufacturing facilities in India.
Emcure Pharma ranks 13th in domestic sales among Indian pharmaceutical companies as of MAT September 2023, with strong market positions in gynaecology and HIV antiviral therapies.
For FY 2023-24, the company reported a net profit of Rs 527.58 crore on revenue of Rs 6,715.24 crore. For FY 2022-23, it reported a net profit of Rs 561.85 crore on revenue of Rs 6,031.72 crore.
As of September 30, 2023, Emcure Pharma employed 552 scientists and operated five research facilities in India, with a significant global patent portfolio including 201 granted patents.
The IPO reserves 50% of the issue for qualified institutional bidders (QIBs), 15% for non-institutional investors, and 35% for retail investors. Eligible employees are allocated 1,08,900 shares with a Rs 90 per share discount.
Kotak Mahindra Capital Company, Axis Capital, JP Morgan India, and Jefferies India are the lead managers, with Link Intime India as the registrar. Emcure Pharma shares are expected to list on both BSE and NSE around July 10.
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