Emcure Pharmaceuticals on Tuesday said it had garnered Rs 583 crore from anchor investors a day before its initial share-sale offer opening 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, SBI Life Insurance Company.
The pharma firm has decided to allot 57.8 lakh equity shares to 48 funds at Rs 1,008 apiece, aggregating the transaction size to Rs 582.6 crore, according to a circular uploaded on the BSE’s website.
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The issue, with a price band of Rs 960 to Rs 1,008 per share, will be open for public subscription on July 3 and conclude on July 5.
The IPO comprises fresh issuance of equity shares worth Rs 800 crore and an offer of sale (OFS) of 1.14 crore equity shares to the tune of Rs 1,152 crore, at the upper end of the price band, by promoters and existing shareholders.
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.
About Emcure Pharma
Founded in 1983 by Satish Ramanlal Mehta, Emcure Pharmaceuticals Ltd. (EPL) is an Indian pharmaceutical company headquartered in Pune engaged in developing, manufacturing and globally marketing a broad range of pharmaceutical products across several major therapeutic areas.
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