Veteran pharma company Macleods Pharmaceuticals has filed preliminary papers for IPO with market regulator SEBI.
Macleods Pharma IPO: Veteran pharma company Macleods Pharmaceuticals has filed preliminary papers for IPO with market regulator SEBI. According to the draft Red Herring Prospectus (DRHP) filed with SEBI, the company is preparing to bring an IPO of Rs 5 thousand crore. This issue will be completely for sale i.e. no new shares will be issued under it and the promoters of the pharma company will sell 6.05 crore equity shares.
Highlights of Macleods Pharma IPO
- The Rs 5 thousand crore IPO of pharma company Macleods Pharma will be completely offer for sale. Promoters of the company will sell 6.05 crore shares through OFS.
- According to the DRHP filed with SEBI, some part of the IPO will be reserved for the employees of the company.
- Kotak Mahindra Capital Company, Citigroup Global Markets India, Edelweiss Financial Services, ICICI Securities and Nomura Financial Advisory & Securities (India) Private Limited are the book running lead managers to the issue.
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Details about the company
- Macleods develops, manufactures and markets formulas for key therapies such as anti-infective, cardiovascular, anti-diabetic dermatology and hormone treatments.
- The company’s business is spread across the country and as per the data available till September 2021, it has 4900 medical representatives in its sales team.
- The company also has a presence outside India. Its business is spread over 170 countries in North America, Europe, Africa, Asia, South America and Commonwealth of Independent Countries.
- This company is fully owned by the promoter and promoter group and is growing in organic form since inception. This company has spread its business so far without raising capital from any private equity players.
(Input: PTI)
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