IPO Analysis: Emcure Pharma has better-listed pharma alternatives
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Promoted by the family of Namita Thapar of the 'Shark Tank' fame, Emcure Pharma is the 13th largest player in the Indian pharmaceutical market. The Pune-based company is rolling out a ₹1,952 crore initial public offering comprising a fresh issue of ₹800 crore and an offer of sale (OFS) of ₹1,152 crore. The IPO represents 10.2% of the post-paid-up capital of the company. The proceeds of the issue are going to be used to repay debt to the tune of ₹600 crore. Among the promoters selling in the OFS, the chief executive Satish Mehta is selling 420,000 shares amounting to ₹42.3 crore at the upper price band, while executive director Namita Thapar is selling 1,268,600 shares amounting to ₹127.8 crore. Business : Set up in 1981 by Satish Mehta, Emcure Pharma today has grown to be the largest pharma company in the gynaecology and HIV therapeutic areas in India. Sixteen of its top 20 brands are ranked among the top three highest-selling bra...