McLeod submits documents to SEBI for Rs 5,000 cr IPO

McLeod Pharmaceuticals has filed preliminary documents with capital markets regulator Securities and Exchange Board of India (SEBI) to raise Rs 5,000 crore through an initial public offering (IPO).

According to the draft Red Herring Prospectus (DRHP), the company’s IPO comprises an offer for sale of 6.05 crore equity shares by the promoters.

As per the draft, a share will also be reserved for the employees of the company in the IPO.

Merchant banking sources said the size of the McLeods Pharmaceuticals IPO is expected to be Rs 5,000 crore.

McLeod Pharmaceuticals is engaged in the development, manufacturing and marketing of a wide range of formulations in many health-related areas. These include anti-infective, cardiovascular and vascular, diabetes, skin diseases and hormone treatment.