Namita Thapar may gain ₹127 crore in Emcure Pharma IPO
Namita Thapar is one of the sharks on Shark Tank India.
Namita Thapar will gain around ₹127 crore through the IPO of Emcure Pharmaceuticals which will kick off this week. Namita Thapar acquired shares in Emcure at a weighted average price of ₹3.44 apiece. Through the IPO, she will offload a partial stake of about 12.68 lakh shares under the offer for sale (OFS) component.
Considering the upper price band of ₹1,008, the stake sale will fetch around ₹127 crore. As of March 2024, Thapar holds about 63 lakh shares or 3.5% in the company.
The IPO comprises a fresh issuance of equity shares worth ₹800 crore and an OFS of 1.14 crore equity shares by promoters and existing shareholders. Others who are also giving up their stakes under the OFS include promoter Satish Mehta and investor BC Investments IV Ltd, an affiliate of US-brd private equity major Bain Capital.
Proceeds of the fresh issue will be used towards payment of debt and for general corporate purposes.
Pune-brd firm Emcure Pharma is engaged in developing, manufacturing, and globally marketing a broad range of pharmaceutical products across several major therapeutic areas.
The research and development-driven company with a differentiated product portfolio that includes orals, injectables, and biotherapeutics with target markets across over 70 countries, including a presence in India, Europe, and Canada.
The global pharmaceutical market is expected to sustain growth at a compound annual growth rate of approximately 5.0% to 5.5% between the calendar years 2023 and 2028, to reach approximately $1,900 billion (approximately ₹157 lakh crore) to $1,950 billion (about ₹161 trillion) in the calendar year 2028.
In FY24, the company's revenue from operations grew 11% year-on-year (YoY) to ₹6,658 crore from ₹5,985 crore in the preceding financial year. Meanwhile, profit after tax declined 6% year-on-year to ₹527 crore from ₹562 crore a year earlier.
Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JPMorgan India are the book-running lead managers to the issue.
Read more news like this on HindustanTimes.com