Bain Capital-backed Emcure Pharma to float IPO on July 3

Bain Capital-backed Emcure Pharmaceuticals is acceptable to motorboat its Initial Public Offering (IPO) connected July 3.

The archetypal stock merchantability volition reason connected July 5 and the bidding for anchor investors volition unfastened for a time connected July 2, according to the Red Herring Prospectus (RHP).

The Emcure Pharma IPO comprises caller issuance of equity shares worthy ₹800 crore and an Offer of Sale (OFS) of 1.14 crore equity shares by promoters and existing shareholders.

Those selling shares successful the OFS see promoter Satish Mehta and capitalist BC Investments IV Ltd, an affiliate of US-based backstage equity large Bain Capital.

Currently, Satish Mehta holds a 41.85 per cent involvement successful the institution and BC Investments owns a 13.07 per cent stake.

Proceeds of the caller contented volition beryllium utilized towards outgo of indebtedness and for wide firm purposes.

The Pune-based steadfast Emcure Pharmaceuticals is engaged successful developing, manufacturing, and globally selling a wide scope of pharmaceutical products crossed respective large therapeutic areas.

Earlier this month, the institution received Sebi's go-ahead to interval the archetypal stock sale. Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JP Morgan India are the book-running pb managers to the issue. The equity shares of the institution are expected to database connected the BSE and NSE connected July 10.

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