Mankind Pharma Files For IPO Today: Key Takeaways

Mankind Pharma has emerged as India's 4 largest pharmaceutical company (by domestic sales). The leading drug maker is engaged in developing, manufacturing, and marketing a vast range of pharmaceutical formulations across several acute and chronic therapeutic areas, as well as several consumer healthcare products including Manforce Condoms and Prega News.

Now the renowned drug maker has filed a draft red herring prospectus (DRHP) with market regulator SEBI for an initial public offering on September 16, 2022. As per reports, the pharma company is likey to raise over $700 million through an IPO.

Mankind Pharma's initial public offering includes an offer for the sale of Rs 4 crore equity shares by current investors and promoters, according to a report published in Economic Times.

It is worth noting that the offer for sale will include approximately 1 crore shares by promoter Juneja family, approximately Rs 2 crore shares by Capital International, nearly 99.65 lakh by Beige, and up to 50,000 equity shares by Link Investment Trust, added the ET report.

Mankind has recruited Citi, Jefferies, J M Morgan, Axis, IIFL, and Kotak as investment bankers.

This is touted as the one the largest public issues by a domestic drug manufacturer after the Rs 6,480 crore IPO of Gland Pharma in 2020.

Earlier, it has declared a revenue of approximately 8000 crore and EBITDA (earnings before interest, taxes, depreciation, and amortization) of Rs 2,200 crore in financial year 2022.

Some of its highest selling pharmaceutical brands include Unwanted 72, Telmikind, Manforce, Candiforce, Gudcef, Codistar, Unwanted-Kit, Nurokind Plus-RF, and Glimestar-M, among others.

The company has also established various differentiated brands in the condoms, pregnancy detection, oral contraceptives, antacid powders, vitamins, and mineral supplements, and anti-acne preparations categories etc.

The company came into existence in 1991.