Emcure Pharmaceuticals Sets Price Band for Rs 1,952-Crore IPO

Emcure Pharmaceuticals, backed by Bain Capital, has announced a price band of Rs 960 to Rs 1,008 per share for its Rs 1,952 crore IPO. The subscription window is open from July 3-5, with an anchor investor bidding day on July 2. Proceeds will mainly go towards debt repayment.

Emcure Pharmaceuticals, a Pune-based firm backed by Bain Capital, has revealed a price band of Rs 960 to Rs 1,008 per share for its Rs 1,952 crore initial public offering (IPO). The subscription period for the IPO is scheduled to run from July 3 to July 5, with a special day for anchor investors set for July 2, the company stated on Friday.

The IPO includes a fresh issuance of equity shares worth Rs 800 crore and an Offer For Sale (OFS) totaling 1.14 crore equity shares, which translates to Rs 1,152 crore at the upper end of the price range. Promoters and existing shareholders, including promoter Satish Mehta and BC Investments IV Ltd, an affiliate of US-based Bain Capital, are selling shares in the OFS.

Currently, Satish Mehta holds a 41.85 per cent stake, and BC Investments owns a 13.07 per cent stake in the company. Proceeds from the fresh issue will be utilized for debt repayment and other corporate purposes. The company, which develops and markets a wide range of pharmaceutical products, has earmarked a portion of shares for employees and various investor groups. The equity shares are expected to list on the BSE and NSE on July 10.

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