Emcure Pharmaceuticals gets SEBI’s nod for IPO launch.

Mumbai, June 21: Emcure Pharmaceuticals gets market regulator Securities and Exchange Board of India (“SEBI”) nod for IPO launch.

The company had filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”) in December 2023.

The IPO comprises a fresh issuance of equity shares worth Rs 800 crore and an Offer of Sale (OFS) of 1.36 crore equity shares by promoters and existing shareholders, according to the fresh draft red herring prospectus filed last week.

Proceeds of the fresh issue will be used towards payment of debt and for general corporate purposes.

Emcure Pharmaceuticals is one of the leading Indian pharmaceutical companies engaged in developing, manufacturing and globally marketing a broad range of pharmaceutical products across several major therapeutic areas. The company is research and development (“R&D”) driven company with a differentiated product portfolio that includes orals, injectables and biotherapeutics, which has enabled them to reach a range of target markets across over 70 countries, with a strong presence in India, Europe and Canada.

Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JP Morgan India are the book-running lead managers to the issue.

The equity shares are proposed to be listed on BSE and NSE.