Bain Capital-backed Emcure Pharma expected to raise up to $672m in IPO

Emcure Pharmaceuticals has filed draft papers with the market regulator for an initial public offering.

The offering will consist of a fresh issue of shares worth $147m and a sale of 18.2m shares by existing shareholders, including U.S. private equity firm Bain Capital, the filing.

Emcure did not immediately respond to Reuters’ request for comment.

The India-based pharmaceutical company, whose unit Gennova Biopharmaceuticals is developing India’s first indigenous mRNA COV­ID-19 vaccine, said it would use the proceeds to repay debt and for general corporate purposes.

Axis Capital, BofA Securities India, Credit Suisse Securities (India), JM Financial are the global coordinators and book running lead managers, and BOB Capital Markets is the book running lead manager to the IPO.

 

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About Emcure Pharmaceuticals 

 Emcure Pharmaceuticals is driven by the purpose to develop, manufacture and market a broad range of pharmaceutical products globally. Their core strength and competitive advantage lies in our established presence in all major therapeutic areas including Gynaecology, cardiology, blood- related, oncology, respiratory, CNS & HIV among others. Emcure has launched 6 biosimilars in the Domestic Market & RoW markets & they are the domestic leader in three biologics. We are leading creation of India’s first indigenous mRNA vaccine to combat COVID- 19 which is currently under trials.

Source: Market Screener

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