Macleods Pharmaceuticals, a major player in the pharma sector, is preparing to launch its IPO, potentially the largest in the sector to date. The company has filed its draft papers with SEBI.
Macleods Pharmaceuticals is poised to enter the public market with its upcoming IPO. The company has filed the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). Macleods Pharmaceuticals' IPO is expected to be the largest in the pharma sector so far. The size of the IPO will be determined following discussions regarding the company's valuation.
According to the DRHP filed with SEBI, Macleods Pharma is a leading company in the development and manufacturing of API (Active Pharmaceutical Ingredients) and finished dose pharmaceutical formulations. The IPO aims to list the company's shares on stock exchanges and proposes a sale of 60,482,040 equity shares by existing shareholders. The company believes that the proposed listing of its equity shares will enhance its brand image and provide a public market for its shares in India.
Kotak Mahindra Capital, ICICI Securities, Citigroup, Nomura, and Edelweiss Financial Services are the investment banks managing the IPO. Cyril Amarchand Mangaldas and Shardul Amarchand Mangaldas are serving as legal advisors.
Macleods Pharma was founded in 1989 by Dr. Rajendra Agarwal and his brothers, Girdhari Lal Bawri and Bandwari Lal Bawri, with the initial goal of producing anti-tuberculosis drugs.
Macleods Pharma is the seventh-largest company in the Indian pharmaceuticals market based on domestic sales. It develops, manufactures, and markets a wide range of formulations across several key therapeutic areas, including anti-infectives, cardiovascular, anti-diabetic, dermatology, and hormone treatments. For the year ending March 2021, the company generated revenue of ₹7,199 crore.
[Related News Snippets about Zomato and Food Inflation are included in the source but are not directly relevant to the Macleods Pharma IPO, so are excluded from this rephrased content.]
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