Get ready to witness a major financial move as Namita Thapar, a prominent member of the Emcure Pharmaceuticals promoter group and a familiar face from her appearance on Shark Tank, is all set to earn a whopping sum of approximately Rs 127 crore through the company’s upcoming IPO.
The IPO is scheduled to open on July 3 and close on July 5. Thapar will be selling a portion of her stake, totaling about 12.68 lakh shares, under the offer for sale (OFS) component.
As reported by ET, Thapar acquired her shares in Emcure at a weighted average price of Rs 3.44 per share. With the upper price band of the IPO set at Rs 1,008, her stake sale is expected to generate around Rs 127 crore. As of March 2024, Thapar holds approximately 63 lakh shares, representing a 3.5% stake in the company.
The IPO comprises a fresh issuance of equity shares worth Rs 800 crore and an OFS of 1.14 crore equity shares by promoters and existing shareholders. Alongside Thapar, promoter Satish Mehta and investor BC Investments IV Ltd, an affiliate of US-based private equity firm Bain Capital, will also be selling their stakes through the OFS.
The proceeds from the fresh issue will be utilized to repay debt and for general corporate purposes. Headquartered in Pune, Emcure Pharma is a research and development-driven company that specializes in the development, manufacturing, and marketing of a wide range of pharmaceutical products across various therapeutic areas.
Emcure Pharma boasts a diverse product portfolio that includes orals, injectables, and biotherapeutics. The company targets markets in over 70 countries, with a strong presence in India, Europe, and Canada.
The global pharmaceutical market is expected to witness substantial growth in the coming years, with a projected compound annual growth rate of approximately 5.0% to 5.5% between 2023 and 2028, reaching a value of around $1,900 billion to $1,950 billion by the calendar year 2028.
In the financial year 2024, Emcure Pharma’s revenue from operations experienced an 11% year-on-year increase to Rs 6,658 crore compared to Rs 5,985 crore in the previous year. However, the company’s profit after tax saw a slight 6% year-on-year decline, dropping to Rs 527 crore from Rs 562 crore.
The book-running lead managers for the IPO include Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JPMorgan India.
