Emcure Pharma files draft paper for Rs 5,000 cr IPO

NEW DELHI: Emcure Pharmaceuticals on Thursday said it has filed draft papers with Sebi for initial public offer (IPO). Sources said the size of the offer could be in the range of Rs 4,500-5,000 crore.

The offer comprised a fresh issue of shares aggregating up to Rs 1,100 crores and an offer for sale aggregating up to 18,168,356 shares. Promoters and private equity investor Bain Capital among those who will offload their shares.

Company proposes to utilise net proceeds from the fresh issue towards repayment of all or a portion of debt and general corporate purposes.

In the fiscal 2021, the company reported profit at Rs 418.59 crore on the revenue of Rs 6091.80 crore. This compares with Rs 100.61 crore profit in FY20 and Rs 202.96 crore in FY19.

Emcure claims to be an R&D driven company with a differentiated product portfolio that includes orals, injectables and biologics, as well as an mRNA platform through which it is currently developing a COVID-19 vaccine, which has enabled it to reach a range of target markets across over 70 countries with a strong presence in Europe and Canada.

Axis Capital, BofA Securities India, Credit Suisse Securities, are the Global Co-Ordinators and Book Running Lead Managers and BOB Capital Markets is the Book Running Lead Manager to the issue.