India based Emcure Pharmaceuticals Ltd filed for an IPO or an initial public offer for its common stock. High hopes were established that Emcure Pharmaceuticals Ltd can raise somewhere in the range of $120 million through the issue of launching an IPO.

Blackstone Group holds a minority stake in the company, investing $50 million in 2006. Emcure Pharmaceuticals Ltd had not disclosed the price it would set per share and the exact amount that they are planning to raise from the IPO. To date, Blackstone still holds a significant minority stake in the company.

The IPO set by Emcure Pharma opens its doors to potential investors and had set clear possibilities for an expanded investment portfolio for the company.

As per statement from sources, financial giants like Merrill Lynch, Bank of America, IDFC Capital and Morgan Stanley are the current book running lead managers involved to the issue for the IPO.