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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Repayment or prepayment of borrowings
Repaying or prepaying all or a portion of certain outstanding borrowings availed by the company.
General corporate purposes
The balance of the fresh issue proceeds after debt repayment, for general corporate purposes.
(₹ in Crore)
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Emcure Pharmaceuticals Limited is an Indian pharmaceutical company that develops, manufactures and markets a broad range of branded and generic formulations, active pharmaceutical ingredients and biotherapeutics across several major therapeutic areas, with a particular leadership position in gynaecology and HIV antiviral treatments in India. Incorporated in 1981 and headquartered in Pune, the company has built a large manufacturing and research base of 13 manufacturing facilities and multiple R&D centres in India staffed by several hundred scientists, supporting a broad and technically complex product portfolio that includes orals, injectables and biotherapeutics. Its products reach patients in more than 70 countries, with a substantial and growing presence outside India, particularly in Europe and Canada, alongside its long-established domestic Indian business. Revenue grew steadily in the years leading up to the IPO, while profit came under some pressure from higher interest and depreciation charges. Proceeds from the fresh issue were earmarked mainly for repaying company borrowings, a step expected to ease that interest burden going forward, alongside general corporate purposes.
Ahead of the public issue, Emcure allotted about 57.8 lakh shares to anchor investors at the issue price of Rs 1,008 per share, raising approximately Rs 582.6 crore. The anchor book included global and domestic institutions such as the Abu Dhabi Investment Authority, Goldman Sachs and Morgan Stanley, alongside a number of mutual funds and insurance companies.
Source: RHP • Analysis provided for informational purposes
Last Updated: 14 July 2026, 5:30 AM
Leadership in key therapeutic segments
The company holds a leading market position in gynaecology and HIV antiviral treatments in India, backed by a strong and longstanding domestic franchise.
Established international footprint
Products reach more than 70 countries with a meaningful and growing base in Europe and Canada, diversifying revenue beyond the Indian market.
Strong in-house R&D capability
A large scientist base and multiple research facilities support a differentiated pipeline spanning complex generics, novel formulations and biotherapeutics.
Regulatory and quality-compliance exposure
As a highly regulated pharmaceutical manufacturer, the company faces the risk of penalties, product recalls or sales restrictions if it falls short of quality or regulatory standards in any of its markets.
Product liability exposure
Quality issues in its formulations could expose the company to liability claims, recalls and reputational damage.
Rising interest and depreciation costs pressuring profit
Profit growth lagged revenue growth in recent years partly due to higher interest and depreciation charges, a trend the fresh issue's debt repayment aims to ease.
Emcure Pharmaceuticals Limited
Plot No. P-1 and P-2, IT-BT Park, Phase II, M.I.D.C., Hinjawadi, Pune - 411057, Maharashtra, India
View on Maps →MUFG Intime India Private Limited
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Operational and manufacturing risk
Disruptions at its manufacturing or research sites, whether from equipment issues, regulatory action or other causes, could affect production and contractual commitments.