Namita Thapar's Emcure Pharma IPO to hit Dalal Street on July 3: Check price band, other details
Namita Thapar's Emcure Pharma IPO to hit Dalal Street on July 3: Check price band, other details
The initial share sale of Namita Thapar-backed Emcure Pharma opens for public subscription next week on July 3. The issue will conclude on July 5. The pharma company is offering its shares in the range of ₹960 to ₹1,008 apiece, where investors can bid for 14 equity shares in one lot and in multiples thereafter.
The public offer includes a fresh share sale of ₹800 crore and an offer-for-sale (OFS) of 1.14 crore equity shares by its promoters and existing shareholders. Considering the upper end of the price band, the company is looking to raise a total of ₹1,951.04 crore through the issue.
Proceeds from the IPO will be used towards repayment and/or prepayment of all or a portion of certain outstanding borrowings availed by the company; and general corporate purposes. Additionally, proceeds from the OFS shall go to the selling shareholders.
About 50% of the issue has been reserved for the qualified institutional bidders (QIBs), while non-institutional investors will have 15% of the net offer. The rest 35% of the net offer shall be allocated towards retail investors.
The company has also reserved 1,08,900 shares for the eligible employees of the company, who will get a discount of ₹90 per share.
Kotak Mahindra Capital Company, Axis Capital, JP Morgan India and Jefferies India are the book running lead managers to the issue, while Link Intime India is the registrar for the issue.
The equity shares of the company will be listed on both BSE and NSE with Wednesday, July 10 as the tentative date of listing.
Incorporated in 1981, Emcure Pharmaceuticals develops, manufactures, and globally markets a wide range of pharmaceutical products across several major therapeutic areas.
The company's revenue increased by 11.33% and profit after tax (PAT) dropped by -6.1% between the financial year ending with March 31, 2024 and March 31, 2023.