Macleods Pharma files for IPO with SEBI
The Hindu
The IPO consists of an Offer for Sale of up to 60.48 million shares by the selling shareholders from the Promoter and Promoter Group
Macleods Pharmaceuticals Limited has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO). The IPO size would be about ₹5,000 crore according to people familiar with the issue.
The IPO consists of an Offer for Sale of up to 60.48 million shares by the selling shareholders from the Promoter and Promoter Group. The company is engaged in developing, manufacturing and marketing formulations across several major therapeutic areas including anti-infectives, cardiovascular, anti-diabetic, dermatology and hormone treatment. The company is wholly-owned by its Promoter and Promoter Group and has grown organically since inception – through internal accruals, and without raising any external funding from private equity players. Its domestic business comprises branded generics and represented 51.73% of its total revenue from operations in fiscal 2021. It has global presence in more than 170 countries across developed and emerging markets such as North America, Europe, Africa, Asia, South America, and the Commonwealth of Independent States.
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