Pune-based Emcure Pharmaceuticals has resubmitted its initial public offering (IPO) documents to the Securities and Exchange Board of India (Sebi). The company plans to raise up to Rs 800 crore through fresh issuance, and an offer-for-sale (OFS) involving 1.37 crore equity shares by existing shareholders, as per the draft red herring prospectus (DRHP).
The company had first submitted draft papers for its IPO in August 2021. The initial proposal included a fresh issue of Rs 1,100 crore and an offer-for-sale (OFS) involving 1.8 crore equity shares. In the refiled documents, the company has trimmed the size of both the fresh issuance and OFS.
The OFS component involves the sale of 49.85 lakh equity shares by promoters and the promoter group, including Namita Vikas Thapar (14.086 lakh shares), Pushpa Rajnikant Mehta (11.5 lakh shares), and Kamini Sunil Mehta (1.25 lakh shares). Additionally, investor BC Investments IV is set to offer 72.34 lakh equity shares. As per the draft papers filed on December 16, the promoters currently hold an 82.97 percent stake in the company, with the remaining 13.09 percent held by public shareholders, including BC Investments IV—an affiliate of US-based private equity major Bain Capital.
First Published: Dec 20 2023 | 9:33 PM IST
