Emcure Pharmaceuticals announced that, only one day before its inaugural share-sale offer opened for public subscription, it had received Rs 583 crore from anchor investors.
The anchor book comprises investors such as Abu Dhabi Investment Authority, Goldman Sachs Asset Management, Nomura, HDFC Life Insurance Company, ICICI Prudential Life Insurance Company, SBI Life Insurance Company, Nippon India MF, and Abu Dhabi Mutual Fund.
As per a circular posted on the BSE website, the pharmaceutical company has chosen to distribute 57.8 lakh equity shares at a price of Rs 1,008 to 48 funds, meaning that the total transaction value is Rs 582.6 crore.
The public subscription period for the issuance, which has a price range of Rs 960 to Rs 1,008 per share, will begin on July 3 and end on July 5
The IPO consists of a new issue of equity shares valued at Rs 800 crore and an offer of sale (OFS) by promoters and current shareholders for 1.14 crore equity shares, valued at Rs 1,152 crore, at the top end of the price band.
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The overall public size as a result comes to Rs 1,952-crore.Promoter Satish Mehta and investor BC Investments IV Ltd., a subsidiary of US-based private equity giant Bain Capita, are among those selling shares in the OFS.
At the moment, BC Investments owns a 13.07 percent ownership in the business, while Satish Mehta controls 41.85 percent.The new issue’s proceeds will be applied to general corporate operations and debt repayment.
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The market capitalization of the business is estimated by brokerage houses to be more than Rs 19,000 crore after the offering.
Emcure Pharmaceuticals, a Pune-based company, is involved in the development, production, and international marketing of a wide range of pharmaceutical products in numerous important therapeutic areas.Up to 108,900 equity shares of the employee component have been reserved for the IPO.
Additionally, qualified institutional investors (QIBs) would receive half of the issue size, retail investors will receive 35%, and non-institutional investors will receive the remaining 15%.
Investors may also place bids for a minimum of 14 shares and for additional multiples of 14 shares after that.
The issue’s book-running lead managers are Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JP Morgan India. On July 10, the company’s equity shares are anticipated to list on the BSE and NSE.
The company obtained approval from Sebi earlier this month to launch its initial share sale.
About Emcure Pharma
Emcure Pharmaceuticals | Leading Global Pharmaceutical Company is a Pune-based Indian pharmaceutical firm that develops, produces, and markets a wide range of pharmaceutical products internationally in multiple therapeutic areas.
