Emcure Pharmaceuticals Limited files DRHP for an IPO
Emcure Pharmaceuticals Limited files DRHP for an IPO Mumbai, July 2, 2013: Emcure Pharmaceuticals Limited (the “Company” or the “Issuer”) has filed a draft red herring prospectus (the “DRHP”) with the Securities and Exchange Board of India (“SEBI”) for offering of equity shares of face value Rs. 10 each (the “Equity Shares”) for cash at a price per Equity Share including a share premium to be determined through the book building process (the “Issue”). The Issue comprises a fresh issue of Equity Shares aggregating up to Rs. 3,000 million (the “Fresh Issue”) and an offer for sale of up to 2,513,057 Equity Shares by certain existing shareholders of the Company. In terms of Rule 19(2)(b)(ii) of the Securities Contracts (Regulation) Rules, 1957, as amended (the “SCRR”), the Issue is for at least 10% of the post-Issue capital where the post-Issue capital of the Company calculated at the Issue Price will be more than Rs. 40,000 million. Not more than 50% of the Issue shall...