New Delhi: Bain Capital Backed Emcure Pharmaceuticals on Tuesday said it has raised Rs 583 crore. Anchor Investors the day before initial share-sale offering opening for Public MembershipThe anchor book includes investors such as HDFC Mutual Fund, ICICI Prudential MF, SBI MF, Nippon India MF, Abu Dhabi Investment Authority, Goldman Sachs Asset Management, Nomura, HDFC Life Insurance Company, ICICI Prudential Life Insurance Company and SBI Life Insurance Company.

The pharma company has decided to allocate Rs 57.8 lakh. common share According to the circular uploaded on the BSE website, 48 funds were sold at a price of Rs 1,008 per share, taking the total transaction size to Rs 582.6 crore.

The issue, with a price band of Rs 960 to Rs 1,008 per share, will open for public subscription on July 3 and close on July 5.

IPO This comprises an issue of fresh equity shares worth Rs 800 crore and an offer for sale (OFS) of 1.14 crore equity shares worth Rs 1,152 crore at the upper end of the price band by promoters and existing shareholders.

Thus, the total public capital becomes Rs 1,952 crore.

Those selling shares in the OFS include promoter Satish Mehta and investor BC Investments IV Ltd, an affiliate of US-based private equity major Bain Capital.

Currently, Satish Mehta holds 41.85 per cent stake in the company and BC Investments holds 13.07 per cent stake.

The proceeds from the fresh issue will be used for repayment of debt and general corporate purposes.

Brokerage houses have estimated the market capitalization of the company to be more than Rs 19,000 crore after the issue.

Emcure Pharmaceuticals, a Pune-based company, is engaged in developing, manufacturing and globally marketing a wide range of pharmaceutical products across several key therapeutic areas.

108,900 equity shares have been reserved for the employee portion in the IPO.

Further, half of the issue size has been reserved for qualified institutional investors (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.

Additionally, investors can bid for a minimum of 14 shares and in multiples of 14 shares thereafter.

Kotak Mahindra Capital Company, Jefferies India, Axis Capital and JP Morgan India are the book-running lead managers to the issue. The equity shares of the company are expected to be listed on BSE and NSE on July 10.

Earlier this month, the company received SEBI’s approval for the initial share sale.