Emcure Pharmaceuticals today received market regulator Securities and Exchange Board of India (SEBI) nod for its IPO launch.
The company had filed its Draft Red Herring Prospectus (“DRHP”) with the market regulator in December 2023.
The IPO comprises a fresh issuance of equity shares worth Rs 800 crore and an Offer of Sale (OFS) of 1.36 crore equity shares by promoters and existing shareholders, according to the fresh draft red herring prospectus filed last week.
“Proceeds of the fresh issue will be used towards payment of debt and for general corporate purposes”.
Emcure Pharmaceuticals is one of the leading Indian pharmaceutical companies which JS into developing, manufacturing and globally marketing a broad range of pharmaceutical products across several major therapeutic areas.
