Namita Thapar set to receive 293-fold return on her IPO investment
PTC News Desk: The anticipated Initial Public Offering (IPO) of Emcure Pharmaceuticals is expected to bring in about Rs 127.87 crore for the company's Executive Director, Namita Thapar. Starting on Wednesday, July 3, Ms. Thapar will sell approximately 12.68 lakh shares under the Offer for Sale (OFS) component of the first public offering (IPO).
The IPO consists of an offer to sell 1.14 crore equity shares from owners and promoters, as well as a new issuance valued at Rs 800 crore. Ms. Thapar's initial investment might yield an astounding 293-fold return.
The investor from Shark Tank India purchased her shares at a weighted average cost of Rs 3.44 each. Her sale is anticipated to generate over Rs 127 crore, with the IPO's highest price band set at Rs 1,008 per share.
As of March 2024, Ms. Thapar owned more than 63 lakh shares, or 3.5%, of the pharmaceutical company situated in Pune. Her initial investment of Rs 2.18 crore was made on these shares, with an average acquisition cost of Rs 3.44 per share.
With a price range of Rs 960 to Rs 1,008 per equity share, each with a face value of Rs 10, the IPO will end on Friday, July 5.
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Additionally, Ms. Thapar has been reappointed to the board as a director for a further five years, beginning on July 28, 2024. On May 27, 2024, and June 5, 2024, respectively, the board and shareholders approved the decision.
In addition to Ms. Thapar, the promoters Satish Ramanlal Mehta, Sunil Rajanikant Mehta, and Samit Satish Mehta are among the selling shareholders in the Offer for Sale (OFS).
BC Investments IV, Pushpa Rajnikant Mehta, Bhavana Satish Mehta, Kamini Sunil Mehta, Arunkumar Purshotamlal Khanna, Berjis Minoo Desai, and Sonali Sanjay Mehta are among the other stockholders taking part in the OFS.
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- With inputs from agencies
