Mankind Pharma IPO To Open Tomorrow: Key Details You Should Not Miss

Mankind Pharma, the first biggest IPO as far as issue size is concerned, is set to open for subscription tomorrow. Below are the key details pertaining to Mankind Pharma:

IPO Dates: The initial share sale of drug maker Mankind Pharma will open for public subscription on April 25. The three-day initial public offering (IPO) will conclude on April 27, and the bidding for anchor investors will open on April 24, according to the red herring prospectus (RHP), according to a PTI report.

Price Band: It is worth mentioning that the price band for the issue has been set at Rs Rs 1,026-1,080 per share.

Offer Size: The company's IPO is entirely an offer for sale (OFS) of 40,058,844 equity shares by promoters and other existing shareholders. The entire fundraising by Mankind Pharma is expected to be Rs Rs 4,110.03 at the lower price band, and Rs 4,326.35 crore at the higher band.

Those selling shares in the OFS are promoters Ramesh Juneja, Rajeev Juneja and Sheetal Arora. Besides, Cairnhill CIPEF, Cairnhill CGPE, Beige Limited, and Link Investment Trust will participate in the OFS, as per the PTI report.

Since the IPO is completely an OFS, the company will not receive any net proceeds from the issue and the entire net proceeds will go to the selling shareholders. Kotak Mahindra Capital Company, Axis Capital, IIFL Securities, Jefferies India and JP Morgan India are the book-running lead managers to the issue. The equity shares are proposed to be listed on BSE and NSE, added the PTI report.

About The Company: Mankind Pharma is engaged in developing, manufacturing, and marketing a diverse range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products. It has established several differentiated brands in condoms, pregnancy detection, emergency contraceptives, antacid powders, vitamin and mineral supplements, and anti-acne preparation categories. 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 located at IMT Manesar, Gurugram (Haryana) and Thane (Maharashtra).