E-Paper
Namita Thapar may gain ₹127 crore in Emcure Pharma IPO
Through the IPO, Namita Thapar will offload a partial stake of about 12.68 lakh shares under the offer for sale (OFS) component.
Namita Thapar will gain around ₹127 crore through the IPO of Emcure Pharmaceuticals which will kick off this week. Namita Thapar acquired shares in Emcure at a weighted average price of ₹3.44 apiece. Through the IPO, she will offload a partial stake of about 12.68 lakh shares under the offer for sale (OFS) component. At the upper price band of ₹1,008, the stake sale will fetch around ₹127 crore for Namita Thapar who holds around 63 lakh shares or 3.5% in the company.
Read more: Akiko Global IPO allotment to be out today: Here's how to check status online
Emcure Pharmaceuticals IPO comprises fresh issue of equity shares worth ₹800 crore and an OFS of 1.14 crore equity shares by promoters and existing shareholders. The company said that net proceeds of the fresh issue will be used towards payment of debt and for general corporate purposes.
Read more: Credit card rule changes that will come into effect in July: SBI Card, HDFC Bank, ICICI Bank, Citibank
The Pune based company is engaged in developing, manufacturing and marketing a broad range of pharmaceutical products.
Read more: Vraj Iron and Steel IPO allotment today: Here's how you can check status
In FY24, the company's revenue from operations grew 11% year-on-year (YoY) to ₹6,658 crore from ₹5,985 crore in the previous financial year. Book-running lead managers to the issue Kotak Mahindra Capital Company, Jefferies India, Axis Capital and JPMorgan India.
