New Delhi: Emcure Pharmaceuticals said on Thursday that it has filed draft documents with Sebi for its initial public offering (IPO). Sources said that the size of the offer could be in the range of Rs 4,500-5,000 crore.
The offer consists of a fresh issue of shares for a total of Rs 1,100 crores and an offer for sale aggregating up to 18,168,356 shares. Promoters and private equity investors Bain Capital among those who will offload their shares.
The company proposes to use the net proceeds of the new issuance to pay off all or part of the debts and general purposes of the company.
In fiscal year 2021, the company reported earnings of Rs 418.59 crore on revenue of Rs 6,091.80 crore. This compares to earnings of Rs 100.61 crore in FY20 and Rs 202.96 crore in FY19.
Emcure claims to be a research and development driven company with a differentiated product portfolio that includes oral, injectable and biologics, as well as the mRNA platform on which it develops the COVID-19 vaccine, allowing it to reach a variety of target markets. in more than 70 countries with a strong presence in Europe and Canada.
Axis Capital, BofA Securities India, Credit Suisse Securities,
JM Financial is the Global Coordinators and Lead Book Management Directors, and BOB Capital Markets is the Book Running Lead Manager to the issue.
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