Shark Tank India Judge Namita Thapar's Emcure Pharma has gotten the green light from SEBI for their IPO, and it looks like the company will be launching the issue within the next two months.
Last year Emcure reportedly hired investment banks JP Morgan, Jefferies and Kotak for the IPO, and targeted a valuation of about $3 billion.
Emcure’s IPO will now include a fresh equity sale worth ₹800 crore and an offer for sale (OFS) of 1.36 crore equity shares by promoters and existing shareholders.
In the OFS, the sellers will include promoter Satish Mehta and investor BC Investments IV Ltd, an affiliate of the US-based private equity giant Bain Capital.
Reason Behind Emcure's IPO:
According to media sources, the funds raised from the IPO will be used by the company to pay off debt and for general corporate purposes.
Emcure Pharmaceuticals, based in Pune, backed by Bain Capital is surely making groundbreaking moves.
Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JP Morgan India are the book-running lead managers for Emcure’s issue.
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