Macleods Pharma files IPO papers with SEBI. Details here

Macleods Pharmaceuticals Limited, one of the leading, vertically integrated, global pharmaceuticals companies in India, has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI). 

The initial public offering (IPO) consists of an offer for sale (OFS) of up to 60.48 million shares, by the selling shareholders from the Promoter and Promoter Group.

“The objects of the offer are to achieve the benefits of listing the equity shares on the stock exchanges, and carry out the OFS of up to 60,482,040 Equity Shares by the Selling Shareholders. Further, our company expects that the proposed listing of its Equity Shares will enhance our visibility and brand image as well as provide a public market for the equity shares in India. our Company will not receive any proceeds from the Offer,” the DRHP stated.

Macleods is engaged in developing, manufacturing, and marketing a wide range of formulations across several major therapeutic areas including anti-infectives, cardiovascular, anti-diabetic, dermatology, and hormone treatment.

Established in 1989, it is the seventh largest company in the Indian Pharmaceutical Market for the six months ended September 30, 2021, based on domestic sales, claimed the draft papers.

The company’s EBITDA Margin has increased from 22.84% in Fiscal 2019 to 24.98% in Fiscal 2020, and 29.12% in Fiscal 2021, whereas PAT Margin has increased from 20.31% in Fiscal 2019 to 21.17% in Fiscal 2020, and 22.65% in Fiscal 2021. Macleods' Return on Capital Employed stood at 66.05% in Fiscal 2021.

Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, Edelweiss Financial Services Limited, ICICI Securities Limited and Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers to the IPO.