Hyderabad June 29 2023

Emcure Pharma to Raise Rs 19,520 Crore Through Main-Board IPO

Hyderabad, June 29, 2023

Emcure Pharmaceuticals, a leading pharmaceutical company, has announced plans to raise approximately Rs 19,520 crore through an initial public offering (IPO).

The IPO will consist of a fresh issue of shares worth Rs 800 crore and an offer for sale of up to 19365346 equity shares with a face value of Rs 10 each. The issue is priced at Rs 960 to Rs 1,050 per share.

The proceeds from the fresh issue will be used for funding capital expenditure, repayment of debt, and general corporate purposes.

The IPO is expected to open for subscription on July 3 and close on July 5. The company plans to list its shares on the BSE and NSE.