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

Bain Capital-backed Emcure Pharmaceuticals is set to launch its initial public offering (IPO) on July 3.

The initial share sale will conclude on July 5 and the bidding for anchor investors will open for a day on July 2, according to the Red Herring Prospectus (RHP).

The IPO comprises fresh issuance of equity shares worth Rs 800 crore and an offer of sale (OFS) of 1.14 crore equity shares by promoters and existing shareholders.

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 41.85% stake in the company and BC Investments owns a 13.07% stake.

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

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

Earlier this month, the company received Sebi's go-ahead to float the initial share sale. Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JP Morgan India are the book-running lead managers to the issue. The equity shares of the company are expected to be listed on the BSE and NSE on July 10.