Emcure, Intas file for Indian IPOs

Indian companies Emcure Pharmaceuticals Ltd. (Pune, India) and Intas Pharmaceuticals Ltd. (Ahmedabad, India) filed for IPOs on the National Stock Exchange of India and Bombay Stock Exchange. Emcure filed to raise up to Rs3 billion ($50.6 million). Shareholders also plan to sell 2.5 million Emcure shares in conjunction with the offering. BofA Merrill Lynch; IDFC Capital and Morgan Stanley are bookrunning lead managers. Emcure markets follow-on biologics, generics and re-formulated drugs in India, Asia, Africa and other markets. The company also manufactures products for the Indian market for several pharmas, including Roche (SIX:ROG; OTCQX:RHHBY). ...