Emcure Pharmaceuticals files for 600 crore IPO, Blackstone to sell part stake

MUMBAI: Pune-based drug-maker Emcure Pharmaceuticals, backed by private equity fund Blackstone, is looking to raise about 600 crore by selling up to 29% stake through an IPO. The company has filed its draft prospectus with Sebi.

US-based Blackstone, which had purchased 13.09% stake in Emcure by investing 225 crore in 2006 through Blackstone GPV Capital Partners Mauritius V-C Ltd, will sell a part of its holding. Emcure has appointed investment banks DSP Merrill Lynch, IDFC Capital and Morgan Stanley India Company Private to sell the issue.