Mankind Pharma IPO To Open On April 25 With A Price Fixed At Rs 1,026-1,080 Per Share

The three-day initial public offering (IPO) will be offered for subscription on April 25-27, with bidding for anchor investors beginning on April 24. Mankind Pharma's initial public offering is scheduled to begin trading next week, with a price range of Rs 1,026-1,080 per equity share. The three-day initial public offering (IPO) will be offered for subscription on April 25-27, with bidding for anchor investors beginning on April 24. The equity shares of 40,058,844 promoters and other current shareholders are being offered for sale (OFS) in the company's initial public offering (IPO).

Shares in the OFS are being sold by promoters Ramesh Juneja, Rajeev Juneja, and Sheetal Arora. Ramesh Juneja is offering 3,705,443 equity shares, Rajeev Juneja is offering 3,505,149 equity shares, and Sheetal Arora is offering 2,804,119 equity shares. Cairnhill CIPEF, Cairnhill CGPE, Beige Limited, and Link Investment Trust will also participate in the OFS. Half of the issue size has been set aside for eligible institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

Mankind Pharma creates, manufactures, and sells a wide range of pharmaceutical formulations for both acute and chronic illnesses, as well as a variety of consumer healthcare products. It boasts a variety of distinctive trademarks in the fields of condoms, pregnancy tests, emergency contraceptives, antacid powders, vitamin and mineral supplements, and anti-acne products. It operates 25 production sites in India and maintains a nationwide marketing presence. By the end of 2022, the company had over 600 scientists on its payroll and four independent R&D centres in IMT Manesar, Gurugram (Haryana), and Thane (Maharashtra).

The equity shares offered through Red Herring Prospectus are proposed to be listed on both BSE and the National Stock Exchange of India Limited. Kotak Mahindra Capital Company Limited, Axis Capital Limited, IIFL Securities Limited, Jefferies India Private Limited, and J.P. Morgan India Private Limited are the Book Running Lead Managers to the Offer. The equity shares of the company will be listed on May 9 on the BSE and NSE.