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Emcure Pharmaceuticals has received the Securities and Exchange Board of India’s (SEBI) approval to float an initial public offering (IPO). The 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. The shares of the company are proposed to be listed on both BSE and NSE.

The company, which filed the draft red herring prospectus with the SEBI in August, got the regulator’s approval on December 8, 2021. Proceeds of the fresh issue will be used towards payment of debt and for general corporate purposes. Axis Capital, JM Financial, BOB Capital Markets, BofA Securities India, Credit Suisse Securities (India) are the book running lead managers to the issue.

Emcure Pharmaceuticals is engaged in developing, manufacturing and globally marketing a broad range of pharmaceutical products across several major therapeutic areas.