Emcure, Bansal Wire IPOs to raise Rs 2,700 crore, issues open July 3

Bain entered the Pune firm in 2014 through its arm BC Investments, with an investment of around Rs 675 crore, Mehta told TNIE here Friday.

The Rs 745-crore issue from the Noida-based Bansal Wire is only a fresh issue, as the company is fully owned by the promoter family.

Both issues will open on July 3 and close on the 5th.

While Emcure has set the price band at Rs 960-1008, Bansal Wire has fixed it at Rs 243-256 per share.

Emcure, established in 1989 had revenue of Rs 6,658 crore in FY24 from which it had earned 19 percent in net margins. Emcure is the first pharma IPO after the highly successful issue by Delhi-based Mankind in May 2022 and initially, the company was planning a Rs 5,000 crore issue in January 2023. However, following a court case in the US, the issue was delayed.

Emcure proposes to utilise the Rs 600 crore of the fresh issue proceeds to part-pay of Rs 2,000 crore of which Rs 1,500 crore is net debt and general corporate purposes.