Mankind Pharma IPO: Mankind Pharma issued its initial public offering (IPO) on Tuesday. It is the biggest IPO in terms of issue size. After Avalon Technologies this is the second IPO offering this year.
Know key details before subscribing Mankind Pharma IPO
Price Band
The price band for the issue has been fixed at Rs 1,026-1,080 per share.
IPO Subscribing Dates, allotments
The offer will open from April 25 to April 27, 2023. The company will open its anchor book, a part of QIB portion, on April 24, a day before opening IPO. Mankind will finalise the IPO share allotment by May 3. The refunds will be credited to the bank accounts of unsuccessful investors by May 4, while the shares will be transferred to demat accounts of eligible investors by May 8.
Offer Size
It has over 36 brands, including Manforce (Rx), Moxikind-CV, Amlokind-AT, Unwanted-Kit, Candiforce, Gudcef, Glimestar-M, Prega News, Dydroboon, Codistar, Nurokind-Gold, Nurokind Plus-RF, Nurokind-LC, Asthakind-DX, Cefakind, Monticope, Telmikind-H, Telmikind, Gudcef-CV, and Unwanted-72, among them.
The total fundraising would be Rs 4,110.03 at the lower price band, and Rs 4,326.35 crore at the higher band.
The maiden public comprises only an offer for the sale of over 4 crore equity shares by promoters and investors, while there is no fresh issue portion.
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Motto of IPO offering:
The main aim of the offer is to achieve the benefits of listing the equity shares on the stock exchanges.
The money raised via IPO will go to selling shareholders, and the company will not receive funds from the offer.
Limited shares
Investors can bid for a minimum of 13 equity shares and in multiples of 13 shares thereafter.
The company reserved 50 per cent of the offer size for qualified institutional buyers, 15 percent for high networth individuals, and the remaining 35 percent for retail investors.
Company details
Mankind Pharma is the India’s fourth-largest pharmaceutical company in terms of domestic sales and third-largest in terms of sales volume for MAT December 2022, as per IQVIA dataset.
The company’s main focus is on the domestic market, which contributed 97.60 percent to the revenue from operations in FY22. The ranking of domestic sales in the Indian Pharma Market (IPM) has been improved from 8th in FY12 to 4th in FY22.
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Financial Risks factors
The pharmaceutical company, which comes with a market capitalisation of Rs 43,264 crore, has reported a consolidated profit of Rs 996.4 crore for the nine-month period ended December FY23, falling 20 percent compared to year-ago period impacted by lower other income, higher employee cost and weak operating performance.
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