New Delhi: India’s one of the leading pharmaceutical manufacturers, Mankind Pharma issued its IPO on April 25th 2023 and it is open for bidding till April 27th 2023.

The pharma company has over 36 brands. Some of them are Manforce (Rx), Amlokind-AT, Prega News, Codistar, Asthkind-DX, Cefakind, Monticope, telmikind-H, and Unwanted-72.

Mankind Pharma IPO Issue Price

The value per share is Rs.1,026 to Rs.1,080 with a lot size of 13 shares. Offering a total issue size of 40,058,844 shares with a face value of Rs.1.

Company to allot the shares by May 3rd, 2023.

According to the market sources, the grey market(unlisted market) is offering these shares at a premium of Rs.70 as on April 27.

Subscription under categories

Subscription under QIB investors(Qualified Institutional Buyers) is 34.18 times of its original offer, with 3.18 times under NII(Non -Institutional Investor), the public issue has been subscribed 10.35 whereas the retail portion has only been subscribed 0.69 times.

The Pharma company has been given “subscribe” recommendations by nine brokerages on the issue. Analysts have to say that by looking at the growth opportunities of the company, the concerns over not-so-cheap valuations fade away.

Mankind Pharma IPO Listing

KFin Technologies Ltd. has been appointed as the official registrar for the IPO. The public issue has been requested to be on both BSE as well as NSE for listing shares on May 8th, 2023.

The company after the issue will not be getting any proceeds, because all the offer proceeds will be received by the selling shareholders.

Mankind Pharma is aiming to fetch Rs.4,326.36 crore from this public issue, which is purely only an offer for sale.