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India's Emcure Pharma plans 2024 IPO, hires JP Morgan, Jefferies

Reuters · 1y ago

India's Emcure Pharma plans 2024 IPO, hires JP Morgan, Jefferies

Emcure Pharmaceuticals, backed by private equity firm Bain Capital, is reportedly planning to raise $400-$500 million in an IPO next year. The company had previously shelved its listing plans in 2022 due to market volatility caused by the conflict in Ukraine. Emcure has hired investment banks JP Morgan, Jefferies, and Kotak for the IPO and aims for a valuation of around $3 billion. Bain Capital, which owns a 13% stake in the company, plans to sell a portion of its stake. Emcure is one of several Indian companies looking to capitalize on the growing pharmaceutical market in the country, which is predicted to reach $130 billion by 2030.

Related News

Bain Capital-backed Emcure Pharma to float IPO on July 3

YourStory

YourStory · 1y ago

Bain Capital-backed Emcure Pharma to float IPO on July 3

Emcure Pharmaceuticals, backed by Bain Capital, is launching its IPO on July 3. The IPO includes a fresh issuance of equity shares worth ₹800 crore and an offer for sale of 1.14 crore shares by promoters and existing shareholders. Proceeds from the fresh issue will be used for debt repayment and general corporate purposes. The Pune-based company develops, manufactures, and globally markets pharmaceutical products. The IPO is expected to be listed on the BSE and NSE on July 10. Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JP Morgan India are the book-running lead managers for the IPO.

Swiggy IPO planned in 2024, investment bankers picked

Livemint

Livemint · 1y ago

Swiggy IPO planned in 2024, investment bankers picked

Swiggy, backed by SoftBank, is reportedly considering Kotak Mahindra Capital, Citi, and JP Morgan for senior roles in its upcoming IPO. Additionally, Bofa Securities, Jefferies, ICICI Securities, and Avendus Capital are expected to be potential advisors for the IPO. The company aims to debut on the stock market in 2024 after previously postponing its listing plans due to market conditions. Swiggy is the second-largest player in the food delivery and grocery delivery markets and was valued at $10.7 billion in its last funding round in 2022.

Vishal Mega Mart names five bankers for $750 million IPO

Livemint

Livemint · 1y ago

Vishal Mega Mart names five bankers for $750 million IPO

Vishal Mega Mart has appointed Kotak Mahindra Capital, ICICI Securities, JP Morgan, Morgan Stanley, and Jefferies as bankers for its upcoming IPO, expected to be worth up to $750 million. The supermarket chain, owned by Partners Group and Kedaara Capital, plans to file for the IPO by the end of the year. Vishal Mega Mart's owners are targeting a valuation of $5 billion. The company operates a mix of owned stores and franchises, and its consolidated revenue grew 36% to INR 7,590 crore ($1.03 billion) in FY23.

Indian food delivery firm Swiggy restarts IPO plans, aims for 2024 listing- sources

Reuters · 2y ago

Indian food delivery firm Swiggy restarts IPO plans, aims for 2024 listing- sources

Swiggy, the SoftBank-backed food delivery company, is reportedly considering a 2024 IPO and has engaged with investment banks, including Morgan Stanley, JP Morgan, and Bank of America, to assess its valuation. The company, which recently turned its food delivery business profitable, had previously halted its IPO plans due to market conditions. Swiggy aims to list between July and September 2024 and is using its last funding round valuation of $10.7 billion as a benchmark, though final valuation and stake sale decisions are pending.

JP Morgan CEO is bullish on India but not 'as a counter to China'

Inshorts · 1y ago

JP Morgan CEO is bullish on India but not 'as a counter to China'

At the JP Morgan Global Markets Conference, CEO Jamie Dimon praised India's bright future, citing improvements in infrastructure and financial systems but avoided downplaying China's significance. Dimon noted India as a "natural ally" for its democratic heritage. JP Morgan plans to invest and expand its technology, trading, research, and investment banking operations in the country.

Carlyle-backed Hexaware taps i-banks for IPO; Mankind Pharma eyes Bharat Serum

VCCircle

VCCircle · 1y ago

Carlyle-backed Hexaware taps i-banks for IPO; Mankind Pharma eyes Bharat Serum

US private equity firm Carlyle has selected a group of five investment banks, including Kotak Mahindra Capital, Citi, JP Morgan, IIFL Capital, and HSBC Securities, to assist with the IPO of Hexaware Technologies. This move is aimed at allowing Carlyle to sell a portion of its stake in the portfolio company. In other news, Indian pharmaceutical company Mankind Pharma is reportedly considering acquiring Bharat Serum and Vaccines in a deal that could be worth $690 million.

LG Electronics mulls Indian unit IPO; Bluestone eyes unicorn status

VCCircle

VCCircle · 1y ago

LG Electronics mulls Indian unit IPO; Bluestone eyes unicorn status

LG Electronics is reportedly considering an IPO for its Indian unit, LG Electronics India Pvt Ltd. The IPO, if approved, could potentially raise over $500 million. LG Electronics has enlisted JP Morgan and Morgan Stanley to assess the potential offering. However, discussions are in the early stages, and the plan is subject to change.

Exclusive: Zetwerk Begins Talks With JP Morgan, Other Bankers For IPO

Inc42 · 10m ago

Exclusive: Zetwerk Begins Talks With JP Morgan, Other Bankers For IPO

- Zetwerk plans to go public and join the list of Indian startups pursuing an initial public offering (IPO). - The company's management has engaged in discussions with 2-3 banks regarding the IPO. - Zetwerk has not provided any response to queries from Inc42 regarding the matter. - JP Morgan, a potential bank involved in the discussions, declined to comment on the development.

PhonePe hires JPMorgan Chase, Citigroup, Morgan Stanley and Kotak as IPO bankers: Report

IndianStartupNews

IndianStartupNews · 2m ago

PhonePe hires JPMorgan Chase, Citigroup, Morgan Stanley and Kotak as IPO bankers: Report

PhonePe, India's leading digital payments platform, is preparing for its IPO, targeting a $1.5 billion raise which could elevate its valuation to $15 billion. To arrange the offering, PhonePe has hired four global investment banks: Kotak Mahindra Capital, JPMorgan Chase, Citigroup, and Morgan Stanley. Having restructured into a public limited company in April 2025, PhonePe plans to file its draft red herring prospectus by August, with the listing expected later this year.

Philippine fintech GCash hires banks for up to $1.5 billion IPO, sources say

Economic Times

Economic Times · 7m ago

Philippine fintech GCash hires banks for up to $1.5 billion IPO, sources say

Philippine fintech firm GCash plans an initial public offering (IPO) of up to $1.5 billion, aiming for the country's largest stock offering ever. The IPO may occur in the latter half of 2025 or in 2026, chaired by banks including Citi, Jefferies, and UBS. This move could invigorate ASEAN IPOs, which experienced a dip recently. GCash achieved a valuation of $5 billion after investments from Ayala Corp and Japan's Mitsubishi UFJ Financial Group.

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