Emcure Pharmaceuticals, backed by Bain Capital in New Delhi, said on Tuesday it had raised Rs 583 crore from anchor investors a day before the opening of its initial offer for sale of shares for public subscription.
The anchor book includes investors including HDFC Mutual Fund, ICICI Prudential MF, SBI MF, Nippon India MF, Abu Dhabi Investment Authority, Goldman Sachs Asset Management, Nomura, HDFC Life Insurance Company, ICICI Prudential Life Insurance Company and SBI Life Insurance Company. .
The pharmaceutical company has decided to allocate 57.8 lakh shares to 48 funds at Rs 1,008 each, taking the transaction size to Rs 582.6 crore, according to a circular uploaded on the BSE website.
The issue, with a price range of Rs 960 to Rs 1,008 per share, will be open for public subscription on July 3 and will conclude on July 5.
The IPO comprises a fresh issue of shares worth Rs 800 crore and an offer for sale (OFS) of 1.14 million shares for a sum of Rs 1,152 crore, at the upper end of the price band, per part of promoters and existing shareholders.
This adds the total public size to 1,952 crore.
Those selling SFO shares include promoter Satish Mehta and investor BC Investments IV Ltd, a subsidiary of US private equity major Bain Capital.
Currently, Satish Mehta holds a 41.85 per cent stake in the company and BC Investments holds a 13.07 per cent stake.
Proceeds from the new issue will be used for debt repayment and general corporate purposes.
Brokerage houses have pegged the company's market capitalization at over Rs 19,000 crore post-issue.
Pune-based Emcure Pharmaceuticals is engaged in the global development, manufacturing and marketing of a wide range of pharmaceutical products in various important therapeutic areas.
The employees' share has reserved up to 108,900 equity shares in the IPO.
Additionally, half of the issue size has been reserved for qualified institutional investors (QIB), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.
Additionally, investors can bid for a minimum of 14 shares and subsequently in multiples of 14 shares.
Kotak Mahindra Capital Company, Jefferies India, Axis Capital and JP Morgan India are the lead managers of the issue. The company's shares are expected to list on the BSE and NSE on July 10.
Earlier this month, the company received the nod from Sebi to carry out the initial share sale.
The anchor book includes investors including HDFC Mutual Fund, ICICI Prudential MF, SBI MF, Nippon India MF, Abu Dhabi Investment Authority, Goldman Sachs Asset Management, Nomura, HDFC Life Insurance Company, ICICI Prudential Life Insurance Company and SBI Life Insurance Company. .
The pharmaceutical company has decided to allocate 57.8 lakh shares to 48 funds at Rs 1,008 each, taking the transaction size to Rs 582.6 crore, according to a circular uploaded on the BSE website.
The issue, with a price range of Rs 960 to Rs 1,008 per share, will be open for public subscription on July 3 and will conclude on July 5.
The IPO comprises a fresh issue of shares worth Rs 800 crore and an offer for sale (OFS) of 1.14 million shares for a sum of Rs 1,152 crore, at the upper end of the price band, per part of promoters and existing shareholders.
This adds the total public size to 1,952 crore.
Those selling SFO shares include promoter Satish Mehta and investor BC Investments IV Ltd, a subsidiary of US private equity major Bain Capital.
Currently, Satish Mehta holds a 41.85 per cent stake in the company and BC Investments holds a 13.07 per cent stake.
Proceeds from the new issue will be used for debt repayment and general corporate purposes.
Brokerage houses have pegged the company's market capitalization at over Rs 19,000 crore post-issue.
Pune-based Emcure Pharmaceuticals is engaged in the global development, manufacturing and marketing of a wide range of pharmaceutical products in various important therapeutic areas.
The employees' share has reserved up to 108,900 equity shares in the IPO.
Additionally, half of the issue size has been reserved for qualified institutional investors (QIB), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.
Additionally, investors can bid for a minimum of 14 shares and subsequently in multiples of 14 shares.
Kotak Mahindra Capital Company, Jefferies India, Axis Capital and JP Morgan India are the lead managers of the issue. The company's shares are expected to list on the BSE and NSE on July 10.
Earlier this month, the company received the nod from Sebi to carry out the initial share sale.
