Emcure Pharmaceuticals, based in Pune, has secured regulatory clearance to proceed with its initial public offering (IPO) valued at Rs 2,500 crore. Originally planned for a higher amount in early 2023, the IPO will now consist of Rs 800 crore in fresh equity and Rs 1,700 crore from an offer for sale by existing shareholders, including promoters. The company plans to launch the IPO in the first week of July. Emcure Pharmaceuticals intends to utilize a significant portion of the proceeds to repay debt amounting to Rs 640 crore, with the remainder allocated for general corporate purposes.
Emcure Pharmaceuticals Receives SEBI Approval for Rs 2,500 Crore IPO
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