Macleods Pharmaceuticals Picks Banks for $1-Billion Offering

Macleods Pharmaceuticals intends to file its DRHP by next January. This Mumbai-based company is planning to get listed on the stock exchange by next year. To achieve the targeted timeline, this drug-maker is completing every necessary IPO-related task one after another.

This time, the company has selected banks to oversee its public offering. Here’s more on this recent development.

Macleods Pharmaceuticals Key IPO Details at a Glance

It is expected that this 35-year old drug-maker could raise $1 billion from its initial public offer. As per sources, the public offer is most likely to comprise secondary shares. However, it may sell primary shares in a smaller number.

That said, the company is still trying to finalise the issue size and timeline. This means investors can expect a change in its targeted fund and issue date.

So, which entities did Macleods Pharmaceuticals appoint for its public offering?

The company appointed these entities for its upcoming public offering:

• Edelweiss Financial Services Ltd.
• ICICI Securities
• JPMorgan Chase & Co.

It is expected that more bankers could be added to the list. However, there is no concrete information about who that could be as of yet.

About the Company – In Brief

Macleods Pharmaceuticals Limited is a non-government company incorporated in 1986. This company is mostly involved with manufacturing APIs and specialises in the same. Macleods Pharmaceuticals has expertise in areas such as antiasthmatics, antimalarials, antitubercular, antibacterials, antihypertensives, antiretrovirals, and antidiabetics.

The company manufactures nearly 25 billion units of dosages of capsules, pressurised metered-dose inhalers, tablets, liquid orals, dry powder for injection, etc. This company also boasts of producing WHO prequalified medicines that are used to treat Tuberculosis, HIV/AIDS, opportunistic infections, and malaria.

Years of experience in this business, coupled with its professional managerial team, puts Macleods Pharmaceuticals in a favourable position. These factors also make it a reputable company in the pharma sector.

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Frequently Asked Questions

1. Who are the directors of Macleods Pharmaceutical Limited?

Rajendra Murlidhar Agarwal, Girdharilal Murlidhar Bawri, Pradeep Vishwanath Gadge, Ruchi Rajendra Agarwal, Banwarilal Murlidhar Bawri, and Mihir Bipin Shah are the directors of this company.

2. What is the authorised share capital of Macleods Pharmaceutical LTD?

Macleods Pharmaceutical Ltd’s authorised share capital stands at Rs. 250,000,000.

3. What is Macleods Pharmaceuticals’paid-up capital?

This company’s paid-up capital is Rs. 199,606,800.