Emcure Pharmaceuticals Ltd. has announced an initial public offering (IPO) of equity shares on Tuesday (July 2) in the price band of ₹960 to ₹1,008 per share. Bids can be made for a minimum of 14 shares and multiples of 14 shares thereafter.
The IPO will close on Friday (July 5). The IPO comprises a fresh issue of ₹800 crore and an offer for sale of up to 1,14,28,839 equity shares by selling shareholders.
The company proposes to utilise the net proceeds of the fresh issue towards repayment and/ or prepayment of all or a portion of certain outstanding borrowings availed by it and for general corporate purposes.
