The company plans to raise funds through the initial public offering comprising a fresh issue of equity shares aggregating up to Rs1,100cr (The Fresh Issue) and an offer for sale aggregating up to 18,168,356 equity shares (Offer for Sale) that includes Mr. Satish Mehta aggregating upto 2,030,000 equity shares and Mr. Sunil Mehta aggregating upto 2,50,000 equity shares (The Promoter Selling Shareholder). Other selling shareholders include private equity investor Bain Capital, as well as certain individual selling shareholders.
The company proposes to utilise net proceeds from fresh issue towards repayment of all or a portion of debt and general corporate purposes.
Emcure is 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 Limited, BofA Securities India Limited, Credit Suisse Securities (India) Private Limited, JM Financial Limited are the Global Co-Ordinators and Book Running Lead Managers and BOB Capital Markets Limited is the Book Running Lead Manager to the issue.
The pharma company is ranked as (i) the 12th largest pharmaceutical company in India and (ii) the largest pharmaceutical company in India in the gynaecology, blood related and HIV antivirals therapeutic areas, based on sales in India in the Financial Year 2021, according to CRISIL.