namita thaparMembers of a promoter group Emcure Pharmaceuticals and known for her appearance on Shark Tank, is set to earn around Rs 127 crore through the company's upcoming IPO. The issue will open on July 3 and close on July 5, wherein Thapar will sell a part of her stake, equivalent to around 12.68 lakh shares, under the Offer for Sale (OFS) component.
Thapar has bought her shares in Emcure at a weighted average price of Rs 3.44 per share, ET reported. With the upper price band of the IPO set at Rs 1,008, she is expected to fetch around Rs 127 crore from her stake sale. As of March 2024, Thapar owns around 63 lakh shares, representing a 3.5% stake in the company.
The IPO will see fresh issuance of equity shares worth Rs 800 crore and an OFS of up to 1.14 crore equity shares by promoters and existing shareholders. Apart from Thapar, promoter Satish Mehta and investor BC Investment IV Ltd, which is affiliated with US-based private equity firm Bain Capital, will also sell their stake through the OFS.
Proceeds from the fresh issue will be used to repay debt and for general corporate purposes. Emcure Pharma, headquartered in Pune, is a research and development-driven company that develops, manufactures and markets a wide range of pharmaceutical products across various therapeutic areas.
The company has a diverse product portfolio, including oral, injectable and biotherapeutics, and targets markets in over 70 countries, with a presence in India, Europe and Canada. The global pharmaceutical market is projected to maintain a compound annual growth rate of approximately 5.0% to 5.5% between 2023 and 2028, reaching a value of approximately $1,900 billion (roughly Rs. 157 lakh crores) to $1,950 billion (roughly Rs. 161 trillion) by calendar year 2028.
Emcure Pharma's revenue from operations in FY24 grew 11% to Rs 6,658 crore as against Rs 5,985 crore in the previous fiscal. However, the company's profit after tax saw a 6% decline year-on-year to Rs 527 crore from Rs 562 crore a year ago.
The book-running lead managers for the IPO are Kotak Mahindra Capital Company, Jefferies India, Axis Capital and JPMorgan India.
Thapar has bought her shares in Emcure at a weighted average price of Rs 3.44 per share, ET reported. With the upper price band of the IPO set at Rs 1,008, she is expected to fetch around Rs 127 crore from her stake sale. As of March 2024, Thapar owns around 63 lakh shares, representing a 3.5% stake in the company.
The IPO will see fresh issuance of equity shares worth Rs 800 crore and an OFS of up to 1.14 crore equity shares by promoters and existing shareholders. Apart from Thapar, promoter Satish Mehta and investor BC Investment IV Ltd, which is affiliated with US-based private equity firm Bain Capital, will also sell their stake through the OFS.
Proceeds from the fresh issue will be used to repay debt and for general corporate purposes. Emcure Pharma, headquartered in Pune, is a research and development-driven company that develops, manufactures and markets a wide range of pharmaceutical products across various therapeutic areas.
The company has a diverse product portfolio, including oral, injectable and biotherapeutics, and targets markets in over 70 countries, with a presence in India, Europe and Canada. The global pharmaceutical market is projected to maintain a compound annual growth rate of approximately 5.0% to 5.5% between 2023 and 2028, reaching a value of approximately $1,900 billion (roughly Rs. 157 lakh crores) to $1,950 billion (roughly Rs. 161 trillion) by calendar year 2028.
Emcure Pharma's revenue from operations in FY24 grew 11% to Rs 6,658 crore as against Rs 5,985 crore in the previous fiscal. However, the company's profit after tax saw a 6% decline year-on-year to Rs 527 crore from Rs 562 crore a year ago.
The book-running lead managers for the IPO are Kotak Mahindra Capital Company, Jefferies India, Axis Capital and JPMorgan India.
