Mankind Pharma Raises Rs 1,297 Crore From Anchor Investors Ahead Of IPO

Mankind Pharma has raised a whopping Rs 1,297 crore equity shares from 77 anchor investors on Monday, ahead of its initial public offer (IPO) launch on Tuesday. Some of the investors were marquee foreign and domestic institutions as per Economic Times report.

The anchor allocation price was was quoted at Rs 1,080 per share, to which 77 investors and 44 institutions participated.

Goldman Sachs, Canada Pension Plan, Government of Singapore, and Fidelity Investment Trust, were some of the overseas participants, among others. Some domestic fund houses include HDFC Mutual Fund, SBI Mutual Fund, and ICICI Pru MF also participated.

IPO opens up for subscription on April 25 and will remain open till April 27. The issue is complete an offer for sale (OFS), under which 40 million shares will be offloaded by promoters and other existing shareholders.

To read more about the IPO: Mankind Pharma IPO To Open Tomorrow: Key Details You Should Not Miss

About 50% of the issue size has been reserved for qualified institutional buyers (QIBs), 35% for retail investors and 15% for non-institutional investors.

Mankind Pharma is the fourth largest Indian pharmaceutical company in domestic sales and third largest in sales volume for moving annual total as of December 2022.

It has a pan-India marketing presence and operates 25 manufacturing facilities across the country. As of December 2022, the company had a team of over 600 scientists and a dedicated in-house R&D centre with four units at IMT Manesar, Gurugram and Thane.