Mono Pharmacare IPO Review: Date, Price, Should You Invest?

Mono Pharmacare Ltd, established in 1994, is involved in the marketing and distribution of pharmaceutical products. Its clientele includes prominent pharmaceutical companies in India. The company functions as a distributor and supplier of a diverse range of pharmaceuticals and medications, encompassing antibiotics, antiallergic drugs, antifungals, nutraceuticals, analgesics, antipyretics, antacids, and cardiac-diabetic medicines. Additionally, it offers healthcare and cosmocare products such as sunscreen lotions, charcoal anti-pollution facewash, deep cleansing facewash, aqua lemon skin rejuvenating facewash, and foaming facewash. Now company announced its ipo and here is Mono Pharmacare IPO Review including the launch date and price, Should You Invest?

The initial public offering (IPO) of Mono Pharmacare Limited has commenced today and will be open for bidding until August 30th, 2023. The price band for the book build issue ranges from ₹26 to ₹28 per equity share. The company aims to list its shares on the NSE SME exchange. Notably, the IPO has also made an entry into the grey market, with market observers reporting a premium of ₹5 per share today.

Mono Pharmacare IPO Review: Date, Price, Allotment

1. Grey Market Premium (GMP) for Mono Pharmacare IPO: Observers in the market have indicated that shares of Mono Pharmacare Limited are trading at a ₹5 per share premium in the unlisted stock market today.

2. IPO Price Range for Mono Pharmacare: The public issue offers shares within the price band of ₹26 to ₹28 per equity share.

3. IPO Opening and Closing Date: The book build issue opened today and will continue to accept subscriptions until August 30th, 2023.

4. IPO Fundraising Target: Mono Pharmacare Limited aims to raise ₹14.84 crore through its public offer using the fresh issue route.

5. IPO Lot Size: Bidders can apply for shares in lots, with each lot consisting of 4000 company shares.

6. Purpose of IPO Funds: The net proceeds from the public issue will be allocated towards working capital needs, general corporate purposes, and covering the expenses related to the IPO.

7. Expected Allotment Date: The tentative date for the allocation of shares is September 4th, 2023.

8. IPO Registrar: Bigshare Services Pvt Ltd has been designated as the official registrar for the Mono Pharmacare IPO.

9. Proposed Listing Exchange: The IPO is intended for listing on the NSE SME exchange.

10. Anticipated Listing Date: The shares are likely to be listed on September 7th, 2023, on the NSE SME exchange.

Should One Invest In Mono Pharmacare?

The pharmaceutical products distributor, Mono Pharmacare, is offering its shares within a price range of Rs 26-28 per share. Investors have the option to bid for shares in lots of 4,000 shares each, and they can increase their bids in multiples of 4,000 shares.

Retail investors are allowed to apply for a maximum of 4,000 shares at the upper price band, which is worth Rs 1.12 lakh. They have a cap of investing up to Rs 2 lakh in the IPO. Currently, in the unofficial market known as the grey market, shares of Mono Pharmacare are being traded at a premium of Rs 5. This grey market facilitates trading of IPO shares until they are officially listed.

The company’s promoters, Panilam Lakhatariya and Supal Lakhatariya, collectively hold an 81.03 percent stake in the pharmaceutical company. The remaining portion is owned by public shareholders. The funds generated from the IPO will be utilized to meet general corporate expenses and working capital needs.