Mankind Pharma is coming up with IPO tomorrow 25th April. The IPO, which will be open for three days 25, 26 and 27 April, will be completely offer for sale. The promoters and investors of the company will sell over 4 crore equity shares.
Mankind Pharma, one of the country’s largest pharma companies, is coming up with an IPO tomorrow, April 25. This will be the second IPO after Avalon Technologies in this calendar year . The IPO, which will be open for three days till 25, 26 and 27 April, will be completely offer for sale.
offer size
Mankind Pharma is bringing this IPO under Offer for Sale, which means that no new shares will be issued in this IPO. In this IPO, the promoters and investors of the company will sell more than 4 crore equity shares.
The promoters of the company, Ramesh Juneja, Rajeev Juneja and Sheetal Arora, will sell more than 1 crore shares under the Offer for Sale and the balance shares of the OFS will be sold by investors Cairnhill CIPEF, Cairnhill CGPE, Bays and Link Investment Trust.
Price band
The price band for the issue has been fixed at Rs 1,026-1,080 per share. The company will raise a total fund of Rs 4,110 crore in the lower price band and Rs 4,326 crore in the higher price band through this IPO.
Lot size
The lot size of this IPO is 13 shares. Investors have to bid for at least one lot which means a minimum investment of Rs 14,040. Apart from this, investors can bid for a maximum of 14 lots (182 shares) in this IPO. Investors can invest a maximum of Rs 1,96,560 in this IPO.
How much
share reserve
Mankind Pharma has reserved half of the offer size of the IPO i.e. 50% for Qualified Institutional Buyers, 15% for HNIs and 35% for Retail Investors.
Share allotment will happen on this day
Mankind Pharma will finalize the IPO share allotment by May 3. Refunds will be credited to the bank accounts of unsuccessful investors by May 4 and shares will be transferred to the demat accounts of eligible investors by May 8.
