Mankind Pharma IPO Price Band: Mankind Pharma’s IPO is going to be one of the big IPOs of healthcare sector companies.
Mankind Pharma IPO: Healthcare sector company Mankind Pharma IPO (Mankind Pharma IPO) will hit the market on 25 April 2023. The company is going to offer 40,058,844 shares through IPO to investors through IPO under Offer for Sale.
Mankind Pharma’s IPO will be open for investment till 27 April. The company has not yet announced the price band of the IPO. The face value of the share has been fixed at Rs.
Mankind Pharma is preparing to raise Rs 4200 to 4700 crores from the market through IPO. Through the IPO, the promoters and investors of the company will sell their stake in the offer for sale.
Company’s promoter Juneja family and investors are preparing to sell around 4 crore shares through offer for sale. After selling the shares under the offer for sale, the promoter’s stake in the company will come down from 79 per cent to 76.50 per cent.
According to the draft paper filed with SEBI, the promoters of the company are Ramesh Juneja, Rajeev Juneja, Sheetal Arora and Ramesh Juneja Family Trust, Rajeev Juneja Family Trust and Sheetal Arora Family Trust.
The existing shareholders of the company are going to sell Cairnhill CIPEF 17405559 shares, Cairnhill CGPE 2,623,863 shares, Beige Limited 9964711 shares and Link Investment Trust 50,000 shares in the IPO.
ChrysCapital-backed GIC of Singapore and CPP Investments hold 10 per cent stake in Mankind Pharma. The amount raised under the offer for sale will not go to the company, but will go to the investors selling the shares. Mankind Pharma has appointed Kotak Investment Banking, JP Morgan, Citi, Jefferies, Axis Capital, IIFL Securities as investment bankers.
Mankind Pharma was formed in 1991. Manforce is a healthcare company manufacturing condoms and pregnancy test kits Prega News. In 2022, it has become the fourth largest company in the country in terms of domestic sales.
The company generates 98 percent of its revenue in India. In 2021-22, the company’s revenue is Rs 8,000 crore and EBIDTA is Rs 2,200 crore. Apart from India, the major markets of the company include America, Bangladesh, Sri Lanka, Nepal.
Looking at the financial performance of Mankind Pharma, the company spent Rs 141.49 crore in 2019-20, Rs 170.78 crore in 2020-21 and Rs 213.44 crore in 2021-22 on research and development.
The company’s management believes that in 2022-23, the company will spend 2.5 per cent of its revenue on research and development. The company has around 600 scientists in which 40 are those who have PhD degree. Three units of the company are present in IMT Manesar, Gurugram Haryana.
