Emcure Pharma Plans IPO, Engages JP Morgan, Jefferies

Bain capital backed Emcure pharmaceutical is gearing up to raise 400-500 million dollars through an IPO planned for the coming year, reviving listing plans the pharmaceutical company put on hold in early 2022 amids the Ukraine conflict and its effect on global markets. 

As outlined in the media, the Emcure has engaged investment banking giants JP Morgan, Jeffries and Kotak to lead it’s IPO initiative.  

The company is aiming to achieve a valuation of approximately 3 billion dollars as per sources. However, Bain which currently owns 13 per cent in the company is planning to sell a part of its stake. 

The company has 14 manufacturing plants in India and is currently the 13th biggest drugmaker and is present in over 70 countries. The company markets pharmaceutical products in domains like gynaecology, cardiology, anti-infectives as well as Vitamins and Vaccines. 

As per CareEdge Ratings report, Emcure recorded a 16 per cent increase in its income from operations, reaching a total of 698 million dollar, in the fiscal year ending in March 2022.The agency further noted that approximately 45-55 percent of Emcure's revenue is generated in India. 

Earlier in 2022 , Emcure had planned to list and raise 672 million dollars but had to shelve the plans due to decline in stock markets following Ukraine crises