Mankind Pharma, the producer of the top-selling condom model Manforce Condoms, goes to open its Rs 4,326-crore preliminary public providing (IPO) subsequent week, between April 25 and April 27. The subscription window for anchor traders will open on April 24. The Mankind Pharma IPO worth band has been mounted at Rs 1,026-1,080 per share, valuing the corporate at Rs 43,264 crore based mostly on the higher band worth. Here’s all you might want to know:
Mankind Pharma IPO GMP Today
The gray market premium (GMP) of Mankind Pharma IPO on Wednesday stood at Rs 80. It means shares of Mankind Pharma had been buying and selling at Rs 1,160, or 7.41 per cent up over the higher worth of the IPO worth band, on the gray market (Rs 1,080 + Rs 80). This signifies a good itemizing for the Mankind Pharma IPO subsequent week.
Mankind Pharma IPO: Key Dates
The IPO of personal fairness agency ChrysCapital-backed Mankind Pharma will probably be out there for public subscription between April 25 and 27. Anchor traders will probably be allowed to take part a day earlier than — April 24. The share allotment will happen May 3. However, the shares will probably be listed at each the NSE and the BSE.
Mankind Pharma IPO: Price Band, Lot Size
The IPO, which is solely a suggestion on the market (OFS) of 40.06 million fairness shares by promoters and different current shareholders, has seen its worth band mounted at Rs 1,026-1,080 per share. In the Rs 4,326-crore IPO, a bidder may bid for at least one lot and most 13 heaps. Quite a bit may have Mankind Pharma’s 13 shares.
Mankind Pharma IPO: Quotas
The preliminary public providing may have a reservation of 35 per cent for retail traders, whereas certified institutional patrons (QIBs) will have the ability to take part in 50 per cent of the full difficulty dimension. Non-institutional traders (NIIs) will have the ability to take part within the remaining 15 per cent of the IPO dimension.
Mankind Pharma IPO: Who Are Selling Shares In The OFS?
Promoters Rajeev Juneja, Ramesh Juneja and Sheetal Arora are promoting shares within the OFS, aside from Cairnhill CGPE, Cairnhill CIPEF, Beige Limited, and Link Investment Trust. Since the IPO is totally an OFS, the corporate won’t obtain any internet proceeds from the problem and all the internet proceeds will go to the promoting shareholders.
Kotak Mahindra Capital Company, Axis Capital, IIFL Securities, Jefferies India and JP Morgan India are the book-running lead managers to the problem. The fairness shares are proposed to be listed on BSE and NSE.
About Mankind Pharma
Mankind Pharma is engaged in creating, manufacturing, and advertising a various vary of pharmaceutical formulations throughout numerous acute and continual therapeutic areas, in addition to a number of client healthcare merchandise.
It has established a number of differentiated manufacturers in condoms, being pregnant detection, emergency contraceptives, antacid powders, vitamin and mineral dietary supplements, and anti-acne preparation classes.
It has a pan-India advertising presence and operates 25 manufacturing amenities throughout the nation. As of December 2022, the corporate had a workforce of over 600 scientists and a devoted in-house R&D centre with 4 models situated at IMT Manesar, Gurugram (Haryana) and Thane (Maharashtra).
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