Bain Capital likely to offload 2.4% stake in Emcure Pharmaceuticals via ₹551 crore block deal

A block deal has been launched in Emcure Pharmaceuticals Ltd, with Bain Capital-backed BC Investments IV looking to sell a 2.4% stake in the company for ₹551 crore, sources privy to the developments told CNBC-TV18.The floor price for the transaction has been set at ₹1,279.80 per share, representing a likely discount to the prevailing market price, sources in the know told CNBC-TV18.

Fourth Quarter Results
Emcure Pharmaceuticals reported a 63% rise in consolidated profit after tax (PAT) to ₹197 crore during the March quarter. The Pune-headquartered firm reported a profit after tax (PAT) of ₹121 crore on a consolidated basis a year ago.Also Read: Emcure Pharma shares get an upgrade driven by strong prospects in India, CanadaDuring the January-March period, Emcure Pharmaceuticals’ revenue from operations stood at ₹2,116 crore, up 19.5% year-on-year from ₹1,771 crore. In a statement, the company said the quarter saw strong performance across both its domestic and international businesses.

Emcure’s domestic business grew 24.8% year-on-year, led by its women’s health and cardio franchises. Meanwhile, the international business registered a growth of 15.6%. In Europe, we recently acquired a portfolio of products and secured key regulatory approvals, which will aid growth going forward, Emcure Pharmaceuticals said.

Emcure Pharmaceuticals Ltd CEO and Managing Director Satish Mehta said, “Over the past year, we have effectively executed our strategies across both domestic and international markets. On the domestic side, we have expanded our covered market and built a strong product pipeline of upcoming launches.”

Also Read: Emcure Pharma Q3 Results: Net profit jumps 30% on-year, margin shrinks

Shares of Emcure Pharmaceuticals Ltd ended at ₹1,281.15, up by ₹9.75, or 0.77%, on the BSE.