Emcure Pharmaceuticals has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for offering of equity shares of face value Rs 10 each (equity shares) for cash at a price per equity share including a share premium to be determined through the book building process. The issue comprises a fresh issue of equity shares aggregating up to Rs 3,000 million and an offer for sale of up to 2,513,057 equity shares by certain existing shareholders of the company.
The book running lead managers to the issue are DSP Merrill Lynch, IDFC Capital and Morgan Stanley India Company.
Emcure Pharmaceuticals has a pan India marketing and distribution presence with a field force of more than 4,800 personnel, as on March 31, 2013. The company has its own sales and marketing infrastructure in the US through its subsidiary, Heritage. It also sells its portfolio of branded generic products to the rest of world. Its products are currently shipped to over 65 countries, where it has established its presence by focusing on important alliances with local and multi-national companies. The company has its subsidiaries in Brazil, Dubai, Nigeria, Singapore and South Africa and branch offices in Morocco and Russia, which play an important role in its international operations. It operates nine manufacturing facilities, eight of which are located in India and one in the US.
EP News Bureau – Mumbai
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