New Delhi:
Namita Thapar, the Executive Director of Emcure Pharmaceuticals, is set to earn approximately Rs 127.87 crore from the company’s upcoming Initial Public Offering (IPO). The IPO, starting on Wednesday, July 3, will see Ms Thapar selling around 12.68 lakh shares through the Offer for Sale (OFS) component.
The IPO comprises a fresh issue worth Rs 800 crore and an offer for sale of 1.14 crore equity shares from shareholders and promoters. Ms Thapar stands to gain a remarkable 293-fold return on her initial investment.
The Shark Tank India investor had acquired her shares at a weighted average price of Rs 3.44 per share. With the top price band of the IPO set at Rs 1,008 per share, her sale is expected to bring in nearly Rs 127 crore.
Ms Thapar held over 63 lakh shares, or 3.5%, of the Pune-based pharmaceutical company as of March 2024. Her initial investment in these shares was Rs 2.18 crore, with an average cost of acquisition per share of Rs 3.44.
The IPO will close on Friday, July 5, with a price band ranging from Rs 960 to Rs 1,008 per equity share, each with a face value of Rs 10.
Ms Thapar has also been reappointed as the Director of the board for an additional five years, effective July 28, 2024. The decision was approved by both the board and shareholders on May 27, 2024, and June 5, 2024, respectively.
Apart from Ms Thapar, other selling shareholders in the Offer for Sale (OFS) include promoters Satish Ramanlal Mehta, Sunil Rajanikant Mehta and Samit Satish Mehta.
Other shareholders participating in the OFS are BC Investments IV, Pushpa Rajnikant Mehta, Bhavana Satish Mehta, Kamini Sunil Mehta, Arunkumar Purshotamlal Khanna, Berjis Minoo Desai and Sonali Sanjay Mehta.
