Mankind Pharma IPO: Allotment Details, And IPO Date

Mankind Pharma subscription ended on a strong note, it was subscribed over 15 times. Next week on May 3 its share allotment will be announced as aper a report on Moneycontrol.

The pharmaceutical company's maiden public issue has received a robust response from qualified institutional investors, who have bid 49.16 times the allotted quota, while high net-worth individuals have bought shares 3.8 times the reserved portion. However, the response from retail investors has remained tlow, with only 92 percent of reserved quota subscribed.

As a result, the initial public offer has received bids for nearly 42.95 crore equity shares subscribing 15.32 times during April 25-27.

The IPO subscription was well received during the anchor round with 16 MF schemes. Foreign and big institutions like CPPIB, Abu Dhabi Investment Authority, Goldman Sachs, Fidelity, Blackrock, GIS and Nomura also participated in it.

Rs 4,326-crore public issue was entirely an offer for sale by promoters and investors. Hence all the money will go to the selling shareholders, and the company will not receive funds from this offer.

The price band for the IPO offer was capped at Rs 1,026-1,080 per share but the final offer price is expected to be at the upper end of the price band.

Investors subscribed to the Mankind Pharma IPO can check their share allotment status either on the BSE website or the portal of the IPO registrar, by following a few easy steps.

How to check allotment on IPO registrar website?

1. Select IPO "Mankind Pharma Limited".
2. After selection of IPO, accordingly enter either the "Application number", "Demat account number", or the "PAN number".
3. Finally enter "Captcha" and click on "Submit" button.

How to check allotment on the BSE portal?

a) Select "Issue Type" and "Issue Name"

b) Enter either "Application number" or "PAN number"

c) Tick the Check the box "I'm not a robot" and click on the "Search" button

If investors who do not receive allotment of shares, they will get a refund, directly credited to bank accounts by May 4. While those investors who get allotted equity shares, the shares will be transferred to demat accounts by May 5.

Grey Market premium
On May 8 Mankind Pharma will make its debut on the BSE and NSE. In the grey market (unlisted market) it was trading at 3 to 5 per cent premium, higher than the expected final issue price of Rs 1,080 per share.

About Mankind Pharma
Mankind Pharma is one of the major players in pharmaceutical products having a domestic focus which contributes about 98 percent to total revenue in FY22. The company has 25 manufacturing facilities across India and has a huge distribution and marketing presence.

It has patented some popular brands like Manforce, Prega news, Gas O Fast, Nurokind, and Telmikind. The company is also making strides in various acute and chronic therapeutic areas.

The pharmaceutical company has a market capitalisation of Rs 43,264 crore at the higher end of the price band. Its consolidated profit reported for the nine-month period ended December FY23 at was Rs 996.4 crore fell 20 percent compared to the corresponding period last fiscal impacted by weak operating performance.

Consolidated revenue for the same period increased by 10.6 percent year-on-year to Rs 6,697 crore, while it has reported a nearly 13 percent YoY decline in EBITDA (earnings before interest, tax, depreciation and amortisation) at Rs 1,484 crore with a margin falling 598 basis points compared to the corresponding period last fiscal.