Mankind Pharma IPO: Mankind Pharma, backed by ChrysCapital, has set the price band for its public issue at Rs 1,026-1,080 per equity share of face value Re 1 each. At the upper end of the price band, the company’s promoters and shareholders seek to raise Rs 43,264 crore from the IPO. Mankind Pharma’s IPO will open for public subscription on Tuesday, April 25. The drug makers’ initial public offer will conclude on April 27, and the bidding for anchor investors will open on April 24, according to the red herring prospectus (RHP). The IPO is entirely an offer for sale (OFS) of 40,058,844 equity shares by promoters and other existing shareholders. The company will not receive any proceeds from the issue and the entire amount will go to the shareholders. The shares are likely to get credited on May 8, and list on stock exchanges on May 9, according to reports.
50% of the IPO is reserved for QIBs, while NIIs can bid for 15% and retail investors for the remaining 35%. Retail investors can apply for a minimum 13 shares in one lot, and a maximum of 14 lots with 182 shares, totalling to Rs 196,560. The promoters’ pre-issue shareholding clocks in at 79%.
Mankind Pharma is engaged in developing, manufacturing, and marketing a diverse range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products. The drug maker works in a number of acute and chronic therapeutic fields, including anti-infectives, cardiovascular, gastrointestinal, anti-diabetic, neuro/CNS, vitamins/minerals/nutrients, and respiratory. 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.