Mankind Pharma IPO To Open On April 25 With Price Band Fixed At Rs 1,026-1,080 Per Share
The three-day initial public offering (IPO) will open for subscription during April 25-27, and the bidding for anchor investors will open on April 24, the company announced.
Mankind Pharma's initial public offering is set to hit the market next week with a price band fixed at Rs 1,026-1,080 per equity share. The three-day initial public offering (IPO) will open for subscription during April 25-27, and the bidding for anchor investors will open on April 24, the company announced.
Promoters and other current shareholders' 40,058,844 equity shares are being offered for sale (OFS) in the company's initial public offering (IPO). Promoters Ramesh Juneja, Rajeev Juneja, and Sheetal Arora are selling shares in the OFS. 3,705,443 equity shares by Ramesh Juneja, 3,505,149 equity shares by Rajeev Juneja, and 2,804,119 equity shares by Sheetal Arora are being put up for IPO. The OFS will also include participation from Cairnhill CIPEF, Cairnhill CGPE, Beige Limited, and Link Investment Trust.
Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors, and the remaining 15 per cent for non-institutional investors.
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Mankind Pharma develops, manufactures, and markets a wide variety of pharmaceutical formulations for both acute and chronic conditions, as well as a number of consumer healthcare items. In the categories of condoms, pregnancy tests, emergency contraceptives, antacid powders, vitamin and mineral supplements, and anti-acne preparations, it has established a number of distinctive trademarks. It runs 25 manufacturing plants across India and has a national marketing presence. By the end of 2022, the business employed over 600 scientists and had four separate R&D centres in IMT Manesar, Gurugram (Haryana), and Thane (Maharashtra).
The equity shares offered through Red Herring Prospectus are proposed to be listed on both BSE and the National Stock Exchange of India Limited. Kotak Mahindra Capital Company Limited, Axis Capital Limited, IIFL Securities Limited, Jefferies India Private Limited, and J.P. Morgan India Private Limited are the Book Running Lead Managers to the Offer. The equity shares of the company will be listed on May 9 on the BSE and NSE.
(Disclaimer: This report is meant only for information purposes. It should not be treated as a stock recommendation. Reader discretion advised.)
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