Public shareholder BC Investments is set to sell a 2.4% stake in Emcure Pharmaceuticals Ltd. through a block deal at an offer price of Rs 1,225 per share, representing a 4% discount on the current market price.
The offer size for the stake sale is Rs 551 crore, with Kotak Securities acting as the book runners for the deal.
Emcure Pharmaceuticals' stock closed 0.72% higher at Rs 1,279.8 per share, reporting a 26.96% increase in the last 12 months and an 11.56% decrease year-to-date.
Analysts tracking the company suggest a potential downside of 13.9% according to the average of 12-month price targets, with a mix of 'buy' and 'hold' recommendations for the stock.