Macleods Pharma files papers for IPO

Mumbai-based Macleods Pharmaceuticals has filed draft papers with Sebi to list on the domestic bourses, in what is likely to be one of the biggest pharma IPOs in recent times. The IPO of Macleods Pharma, which specializes in the development and manufacture of APIs (active pharmaceutical ingredients) and finished dosage pharmaceutical formulations, will consist purely of an offer for sale, or OFS. The selling shareholders are from the promoter group and the OFS comprises 60.5 million shares. The final size of the IPO will depend on the outcome of valuation discussions.