Shark Tank fame 'Phar-Maa' Namita Thapar to make 293x returns from Emcure IPO
Shark Tank fame 'Phar-Maa' Namita Thapar to make 293x returns from Emcure IPO
Namita Thapar, one of the sharks from Shark Tank India, is all set to offload her stake partially in the upcoming IPO of Emcure Pharmaceuticals. Thapar, who often monikered herself as 'Phar-Maa' in the business reality television show is set to make a whopping 293 times returns from here investment in the company, suggest the RHP of the company.
Named among the promoters of Emcure Pharma, Namita Vikas Thapar owns 63,39,800 equity shares, or 3.5 per cent stake in the pharma company and weighted average cost of acquisition (WACA) of her stake is Rs 3.44 per share, as per the newspaper advertisement floated by the company. At this cost, Thapar's investment in the company stood little above Rs 2.18 crore.
However, the 'seasoned shark' is likely to offload up to 12,68,600 equity shares of Emcure Pharma in its forthcoming IPO, which is set to launch on Wednesday, July 3. The company is selling its shares in the price band of Rs 960-1,008 apiece. At the upper end of the price band, Thapar will be making an astounding 29,300 per cent or 293 times returns from offer-for-sale (OFS) component.
Upon selling her entire proposed OFS stake, Thapar will still have 50,71,200 equity shares in her portfolio, which shall be worth Rs 511.18 crore at the upper end of the price band. The Rs 1,952 crore IPO of Emcure Pharmaceuticals will close for bidding on Friday, July 5, 2024.
Other promoters like Satish Ramanlal Mehta, who owns 7,58,16,748 equity shares, or 41.85 per cent stake in the company, will also be offering up to 4,20,000 equity shares from his kitty. As per his WACA of Rs 19.37 apiece, Mehta will be minting a profit of 989 times, or 98,900 per cent.
Among other promoter group entities, Pushpa Rajnikant Mehta has the least WACA of merely Rs 0.04 per share and she will be making a profit of a whopping 25,200 times or 25,20,000 per cent from her OFS component. She owns 43,36,052 equity shares, or 2.39 per cent stake in the company but will be offloading up to 4,50,000 shares only.
One should note that, Promoter Namita Thapar and Satish Ramanlal Mehta own their initial stakes in the company from its inception in May 1982, while Pushpa Rajnikant Mehta is holding her initial stake in February 1994. However, their stake has been rejigged over the period due to stock split, bonus issues and other corporate actions.
BC Investments IV, which owns 2,36,73,544 equity shares, or 13.07 per cent stake in Emcure Pharma, will be offloading the biggest chunk in the OFS component of the issue. The non-bank mortgage lender will be selling up to 72,34,085 equity shares from its portfolio, making a profit of 3.63 times of their investment in the company.
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