Last Updated: April 18, 2023, 13:39 IST
The preliminary share sale of drug maker Mankind Pharma will open for public subscription on April 25.
The three-day preliminary public providing (IPO) will conclude on April 27, and the bidding for anchor traders will open on April 24, in accordance to the pink herring prospectus (RHP).
The firm’s IPO is solely a proposal on the market (OFS) of 40,058,844 fairness shares by promoters and different present shareholders.
Those promoting shares within the OFS are promoters Ramesh Juneja, Rajeev Juneja and Sheetal Arora. Besides, Cairnhill CIPEF, Cairnhill CGPE, Beige Limited, and Link Investment Trust will take part within the OFS.
Since the IPO is totally an OFS, the corporate is not going to obtain any web proceeds from the difficulty and your entire web proceeds will go to the promoting shareholders.
Mankind Pharma is engaged in growing, manufacturing, and advertising and marketing a various vary of pharmaceutical formulations throughout varied acute and power therapeutic areas, in addition to a number of shopper 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 and marketing presence and operates 25 manufacturing services 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 items positioned at IMT Manesar, Gurugram (Haryana) and Thane (Maharashtra).
Kotak Mahindra Capital Company, Axis Capital, IIFL Securities, Jefferies India and JP Morgan India are the book-running lead managers to the difficulty. The fairness shares are proposed to be listed on BSE and NSE.
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