Macleods pharma IPO: Mumbai-based pharma company filed DRHP with SEBI
Macleods Pharmaceuticals Ltd., one of India’s leading vertically integrated global pharmaceutical companies specializing in the development and manufacturing of APIs (active pharmaceutical ingredients) and finished dosage pharmaceutical formulations, has filed its draft Red Herring Prospectus ( DRHP) with the Securities and Exchange Board of India (SEBI) regulatory market.
According to the DRHP of the vertically integrated company Macleods Pharma, the initial public offering will only consist of an offer for sale (OFS) of 60.05 Cr shares by promoters. The company is to mop up Rs 5,000 crore through an initial public offering (IPO). In addition, in accordance with the DRHP, part of the IPO would be reserved for subscriptions by eligible employees.
ICICI Securities, Kotak Mahindra Capital, Citi, Nomura and Edelweiss Financial Services are the investment banks working on the IPO. Cyril Amarchand Mangaldas and Shardul Amarchand Mangaldas are the legal advisers.
Macleods Pharmaceuticals Ltd.
Mumbai-based Macleods Pharmaceuticals Limited manufactures, develops and markets a variety of formulations in a variety of therapeutic areas including anti-infectives, cardiovascular, dermatological, anti-diabetics and hormone therapy. Through its sales staff, which had over 4,900 medical sales reps in India as of September 2021, the firm has a presence in all parts of the country. It also has a global presence in over 170 countries, including North America, Europe, Africa, Asia, South America and the Commonwealth of Independent States, in both developed and emerging markets. Macleods is wholly owned by its promoter and group of promoters, and it has grown organically since its inception – via internal regularizations and without the help of private investors.
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Article first published: Tuesday, February 15, 2022, 3:27 p.m. [IST]