Bain Capital-backed Emcure Pharma files fresh IPO papers with Sebi

New Delhi: Bain Capital-backed Emcure Pharmaceuticals has filed fresh preliminary papers with capital markets regulator Sebi to raise funds through an Initial Public Offering (IPO).

The IPO comprises a fresh issuance of equity shares worth Rs 800 crore and an Offer of Sale (OFS) of 1.36 crore equity shares by promoters and existing shareholders, according to the fresh draft red herring prospectus filed last week.

Those selling shares in the OFS include promoter Satish Mehta and investor BC Investments IV Ltd, an affiliate of US-based private equity major Bain Capital.

Currently, Satish Mehta holds a 41.92 per cent stake in the company and BC Investments owns a 13.09 per cent stake.

Proceeds of the fresh issue will be used towards payment of debt and for general corporate purposes.

Earlier, the company had filed draft IPO papers with the Securities and Exchange of India (Sebi) in August 2021. The issue comprised a fresh issue of Rs 1,100 crore, and an OFS of 1.8 crore equity shares.

Pune-based firm Emcure Pharmaceuticals is engaged in developing, manufacturing, and globally marketing a broad range of pharmaceutical products across several major therapeutic areas.

Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JP Morgan India are the book-running lead managers to the issue.

The equity shares are proposed to be listed on BSE and NSE.