Mankind Pharma IPO Date, Price, GMP & Listing Know Everything

Mankind Pharma is one of the biggest global pharmaceutical companies in India. In terms of domestic sales, they are the fourth-largest pharmaceutical firm in India. Now the company plans its first initial public offer and here is the Mankind Pharma IPO Date, Price, Listing and Issue Size. The company is currently engaged in the discovery, production, and marketing of numerous consumer healthcare items in addition to a broad range of pharmaceutical formulations in a number of acute and chronic therapeutic areas. They started out in 1991. Read More Business News on our website.

Mankind Pharma produces the emergency contraceptive brand Unwanted – 72, pregnancy test kits (Prega News), and condoms (Manforce). Manforce Condoms, Prega News, and Gas O Quick Sachets are some of their brands. The global corporation, which has its headquarters in Delhi, sells its branded goods.

Mankind Pharma IPO Date and Size

The Mankind Pharma IPO begins on April 25 and ends on April 27. Up to 40.06 million shares with a face value of Rs are up for pure sale in the issue. 1 for each offer, summarizing the absolute issue size to Rs. 4326.36cr. In the OFS, Ramesh Juneja will offload shares upto 3.71 million, Rajeev Juneja upto 3.51 million offers, Sheetal Arora upto 2.80 million offers, Cairnhill CIPEF Ltd upto 2.62 million offers, Beige ltd upto 9.96 million offers and Connection Venture Trust upto 50,000 offers.

The company has set the lot size at 13 shares per lot and the price band at Rs. The issue will be listed on the exchanges on May 8 and the shares will be distributed on May 3. 1026-1080 for each share. The IPO’s lead managers are JP Morgan, Jefferies, IIFL Capital, Axis Capital, and Kotak Mahindra Capital.

Mankind Pharma IPO GMP

Grey market price (GMP) trading typically commences approximately four to five days prior to the IPO opening and continues until the listing date. We already have GMP data for the last five days for Mankind Pharma Ltd., which should provide a reasonable post-listing picture. The GMP is affected by two things. To begin, the GMP is profoundly influenced by the market conditions, which include the Nifty and Sensex levels, as well as the general IPO market and macro conditions. Second, as a sign of investor enthusiasm, the amount of subscriptions for the IPO in the retail and QIB segments has a significant impact on the GMP.

The grey market premium opened at around Rs82, according to the GMP trend, but has since fluctuated between Rs96 and Rs80 over the past four days, reaching its current level of Rs. 80 cents a share. Naturally, since this would have a significant impact on the GMP, we must wait for actual subscription numbers when the issue opens for subscription on April 25, 2023. In the past, the grey market pricing of stocks that were oversubscribed during the IPO also experienced a significant and positive shift.

In the beginning, Mankind Pharma Ltd has shown a great foothold in the dark market. A healthy 7.41% listing premium for Mankind Pharma Ltd over the listing price is indicated by the GMP of Rs.80 on a likely upper band pricing of Rs.1,080. That assumes that Mankind Pharma Ltd. will list on May 9, 2023, at a price of around Rs. 1,160 per share. You must maintain a margin of safety because these are rough estimates. However, this would be contingent on the GMP remaining operational for a few days following the issue’s emergence.

Subscription and Market Lot

On April 25, the IPO of Mankind Pharma will open for subscription. The organization has fixed a value band of Rs 1,026-1,080 an offer for its Rs 4,326-crore offer. On April 27, the window for subscriptions will close.

The promoters and other existing shareholders are solely making an offer for sale (OFS) of 40,058,844 equity shares for the IPO. Promoters Sheetal Arora, Rajeev Juneja, and Ramesh Juneja are the ones selling OFS shares. In addition, Beige Limited, Link Investment Trust, Cairnhill CIPEF, and Cairnhill CGPE will participate in the OFS.

Mankind Pharma IPO Price Band

Mankind Pharma has fixed the cost band for its impending starting public proposition (Initial public offering) at Rs 1,026 – Rs 1,080. The public issue begins accepting subscriptions on April 25 and runs through April 27. Promoters and existing investors seeking to sell their stakes in the Delhi-based pharmaceutical company are solely making an offer for sale (OFS) in the IPO.

According to the company’s red-herring prospectus (RHP), the total number of equity shares on the block will be 40,058,844. Equity shares have a face value of one Re per share. Sheetal Arora, Ramesh Juneja, and Rajeev Juneja, the promoter, will each sell 3,705,443, 3,505,149, and 2,804,119 equity shares.

Date of IPO Listing

The company has appointed KFin Technologies as registrar for this issue and Kotak Investment Banking, Axis Capital, IIFL Securities, Jefferies, and JP Morgan as BRLMs.

According to the RHP, the total covered market for the company’s consumer healthcare division was Rs 206,82 crore in 2022. Under the “Manforce” brand, the company also asserts that it leads the male condom category. Domestic sales of the product totaled approximately Rs 461.60 crore, or 29.6% of the market. The pregnancy location pack classification under the Prega News brand had homegrown deals of roughly Rs 184.40 crore addressing a portion of the overall industry of roughly 79.7%, the RHP said.