Emcure Pharmaceuticals Refiles IPO Papers, Trims Size Amid Market Conditions

Bain Capital-backed Emcure Pharmaceuticals Resubmits IPO with Reduced Fresh Issuance of Rs.800 Crore

Emcure Pharmaceuticals, backed by Bain Capital, has refiled its IPO papers with the SEBI, opting for a reduced offering. The Pune-based company aims to raise Rs.800 crore through a fresh issuance and an offer-for-sale (OFS) involving 1.37 crore equity shares.

Initially proposing a larger fresh issue of Rs.1,100 crore and 1.8 crore equity shares in the OFS in August 2021, the company cited subdued market conditions post the Ukraine-Russia war and underperformance in the pharma sector as reasons for the adjustment. The move reflects a strategic response to prevailing market dynamics.