Ola Electric, Emcure Pharmaceuticals get SEBI nod for IPO launch
₹800 crore and an Offer of Sale (OFS) of 1.36 crore equity shares by promoters and current shareholders.The proceeds of the new issuance will be used to pay off debt and for other company purposes. In the OFS, the selling shareholders are Satish Ramanlal Mehta (up to 1,730,000), Sunil Rajanikant Mehta (up to 40,000), Namita Vikas Thapar (up to 1,408,600), Pushpa Rajnikant Mehta (up to 1,150,000), Bhavana Satish Mehta (up to 531,400), Kamini Sunil Mehta (up to 125,000), BC Investments IV Ltd (up to 7,234,085), Arunkumar Purshotamlal Khanna (up to 300,000), Berjis Minoo Desai (up to 144,642), and Sonali Sanjay Mehta (up to 125,000).The book-running lead managers for the offer are Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JP Morgan India.
The equity shares are proposed to be listed on BSE and NSE.Emcure Pharmaceuticals is a renowned Indian pharmaceutical company that develops, manufactures, and markets a wide range of pharmaceutical products across many primary therapeutic areas. The firm is a research and development ("R&D")-driven corporation with a differentiated product portfolio that comprises orals, injectables, and biotherapeutics, allowing it to access a wide variety of target markets in over 70 countries, including India, Europe, and Canada.(more to come) Milestone Alert!
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