Emcure Pharmaceuticals receives Sebi approval to go ahead with IPO plans

Bain Capital-backed Emcure Pharmaceuticals has received capital markets regulator Sebi's go-ahead to raise funds through an initial share-sale. The initial public offering (IPO) comprises fresh issuance of equity shares worth Rs 1,100 crore and offer of sale (OFS) of 18,168,356 equity shares by promoters and existing shareholders, according to the draft red herring prospectus (DRHP).

As part of the OFS, promoters — Satish Mehta will offload 20.30 lakh equity shares, Sunil Mehta will sell 2.5 lakh equity shares — and investor BC Investments IV Ltd will divest 99.5 lakh equity shares among others.