Macleods Pharma files DRHP for second largest IPO by drug co at Rs 5,000 cr

It is entirely an offer for sale or OFS, company won't receive any of the proceeds

Mumbai-based Macleods Pharmaceuticals, the seventh largest drug firm in the Indian Pharmaceutical Market (IPM), has filed preliminary papers with the capital markets regulator Sebi to raise Rs 5,000 crore through an initial public offering (IPO). This will be the second largest pharma IPO to hit the street after Gland Pharma’s Rs 6,480 crore issue in November 2020.

The IPO market for drug firms seems to be heating up as Pune-based Emcure Pharma’s Rs 5,000 crore issue is around the horizon. Emcure is the parent company of Gennova Biopharma which is making India’s first indigenous mRNA Covid19 vaccine.

As for Macleods,