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Home >Markets >Ipo >Bain Capital-backed Emcure Pharma strengthens its board ahead of Rs4,000 cr IPO

Emcure Pharmaceuticals Ltd on Tuesday said that it has strengthened its board with the appointment of four independent directors. The move comes ahead of the company’s plans to file for a Rs4,000 crore initial public offering.

The company will file the draft red herring prospectus for its IPO early next month, said a person aware of the company’s plans, speaking on the condition of anonymity.

The Pune-based pharmaceutical company has added four independent directors - Dr Shailesh Ayyangar, Vijay Gokhale, Hitesh Jain and Dr Vidya Yeravdekar, the statement said. Earlier this year, Berjis Desai had taken over the post of chairman of the Emcure Board. The company has had a long-standing tradition of appointing a Chairman from amongst its independent directors since 1997, it said.

Emcure’s Chairman and Independent Director, Desai has been associated with Emcure Pharmaceuticals for over three decades. Dr Ayyangar appointed as Additional Director comes with an extensive experience of 34 years in healthcare and pharmaceutical. Gokhale appointed as Independent Director was in the Indian Foreign Service since 1981. Jain, appointed as Independent Director, is an alumnus of London School of Economics, Dr Vidya Yeravdekar appointed as Independent Director is the Principal Director of Symbiosis Society, and the Pro-Chancellor of Symbiosis International University.

“The additions to the leadership team for Emcure Pharmaceuticals reflect its commitment towards enriching its expertise and strengthening its operations for future growth. The new members’ collective strength across legal, pharma spectrum, policy developments and academics will provide additional thrust to Emcure’s growth trajectory," the company said.

“We are delighted to have highly accomplished industry stalwarts as part of our board. New members’ combined experience and wider perspective from their respective fields will play an instrumental role in strengthening our strategic operations to grow in domestic and international markets. It is an exciting time for the organisation, and we look forward to achieving newer heights with our new members on board," said Satish Mehta, MD and CEO, Emcure Pharmaceuticals

Emcure is engaged in gynaecology, blood-related and HIV antiviral therapy areas. It is also developing India’s first mRNA vaccine for covid-19 using its in-house developed mRNA platform.

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