Liquidity Events
Emcure Pharmaceuticals’ IPO oversubscribed
The initial public offer of Emcure Pharmaceuticals has been oversubscribed. The IPO, priced in the range of INR 960-1,008 per share, comprises a fresh issuance of equity shares worth INR 800 crore and an offer for sale (OFS) of 1.14 crore equity shares by promoters and existing shareholders. At the upper end, the issue size will be INR 1,952 crore. The company will use the net proceeds from the fresh issue towards pre-payment of debt and for general corporate purposes.Those selling shares in the OFS include BC Investments IV Ltd, an affiliate of Private Equity investor Bain CapitalKotak Mahindra Capital Company, Jefferies India, Axis Capital, and JP Morgan India are the book-running lead managers to the issue.
In Apr 2014, Emcure Pharmaceuticals had raised USD 107.10 M funding from Bain Capital via secondary purchase of shares from Blackstone.For FY23, Emcure had reported INR 5,985.81 Cr in Operating Income and INR 561.85 Cr in PAT .
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