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IPO Grey Market is the over-the-counter market where deals are done in-person only among the trusted group of investors. The deals are usually facilitated by the broker in neighborhood. In this market, an investor could sell IPO share or IPO application before the company gets listed on the stock exchange.
IPO Grey Market Premium (IPO GMP) is the premium at which the IPO shares are traded in the grey market. Kostak Rate is the rate at which you can sell the IPO application for a fixed price irrespective to you get IPO allotment or not.
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In 2006, Blackstone invested Rs 225 crore in Emcure through its investment vehicle Blackstone GPV Capital Partners Mauritius V-C Limited. The fund now holds 13.09% stake. It will sell 29% of its holding in the company (29% of the 13.09% stake it holds) and will retain the rest. Fresh equity will also be issued by the company through this public offer.
The company has appointed investment banks DSP Merrill Lynch Limited, IDFC Capital Limited and Morgan Stanley India Company Private Limited to manage the issue.
Emcure Pharmaceuticals develops, manufactures and markets a broad range of pharmaceutical products in major therapeutic areas including blood related, cardiology, pain and analgesics, HIV, gynecology, nephrology, anti-infective, and vitamins, minerals and nutrients products.
It has also recently entered the oncology and diabetes therapeutic areas. It has a pan India marketing and distribution presence with a field force of more than 4,800 personnel, as of March 31, 2013.
In April 2011, the Company acquired Heritage Pharmaceuticals Inc., a New Jersey-based generic pharmaceutical company, which provides the commercial platform through which it markets and sell portfolio of USFDA approved products in the United States. In addition, it has relationships with companies such as Pfizer, BMS, Teva and Sandoz across multiple dosage forms. It also sells its portfolio of branded generic products to the Rest of World.
Its products are currently shipped to over 65 countries. The Company has subsidiaries in Dubai, Brazil, South Africa, Singapore and Nigeria and branch offices in Russia and Morocco. It operates nine manufacturing facilities, eight of which are located in India and one in the United States.