The anticipated Initial Public Offering (IPO) of Emcure Pharmaceuticals is expected to bring in about ₹ 127.87 crore for the company’s Executive Director, Namita Thapar. Starting on Wednesday, July 3, Ms. Thapar will sell approximately 12.68 lakh shares through the Offer for Sale (OFS) component of the initial public offering (IPO).
The IPO comprises a fresh issue worth ₹ 800 crore and an offer for sale of 1.14 crore equity shares from shareholders and promoters. Ms Thapar stands to gain a remarkable 293-fold return on her initial investment.
The investor from Shark Tank India purchased her shares at a weighted average cost of ₹ 3.44 each. Her sale is anticipated to generate almost ₹ 127 crore, with the IPO’s top price band set at ₹ 1,008 per share.
As of March 2024, Ms. Thapar owned more than 63 lakh shares, or 3.5%, of the pharmaceutical company based in Pune. Her initial investment of ₹ 2.18 crore was for these shares, which had an average acquisition cost of ₹ 3.44 per share.
With a price range of ₹ 960 to ₹ 1,008 per equity share, each with a face value of ₹ 10, the IPO will close on Friday, July 5.
Additionally, Ms. Thapar has been reappointed to the board as a director for a further five years, beginning on July 28, 2024. On May 27, 2024, and June 5, 2024, respectively, the board and shareholders approved the decision.
In addition to Ms. Thapar, the promoters Satish Ramanlal Mehta, Sunil Rajanikant Mehta, and Samit Satish Mehta are among the selling shareholders in the Offer for Sale (OFS).
BC Investments IV, Pushpa Rajnikant Mehta, Bhavana Satish Mehta, Kamini Sunil Mehta, Arunkumar Purshotamlal Khanna, Berjis Minoo Desai, and Sonali Sanjay Mehta are among the other shareholders taking part in the OFS.
