Mankind Pharma IPO: Promoters and shareholders will reduce their stake under the Rs 4,326 crore IPO of Mankind Pharma. Over 4 crore equity shares will be sold through the OFS window. The issue will open for subscription next week and the shares are looking strong when it comes to the gray market. It is also a very strong company in terms of business.
Mankind Pharma IPO: The price band of the IPO of Mankind Pharma, the parent company of Manforce , one of the best-selling condom brands, has been fixed. Mankind Pharma has fixed a price band of Rs 1026-1080 for the Rs 4326 crore issue. The issue, which is fully an offer for sale, will open for subscription next week on April 24.
The promoters and shareholders of the company will sell more than 4 crore shares. Now if we talk about gray market, its shares are trading at GMP (Grey Market Premium) of Rs.80 according to the upper price of the price band. However, according to market experts, investment decisions should be taken based on the fundamentals and financials of the company rather than signals from the gray market.
Mankind Pharma IPO details
Promoters and shareholders will reduce their stake under Mankind Pharma’s Rs 4,326 crore IPO. Through the OFS window, Ramesh Juneja will sell 37.1 lakh, Rajeev Juneja 35.1 lakh, Sheetal Arora 28 lakh, Cairnhill CIPEF 1.74 crore, Cairnhill CGPE 26.2 lakh, Bayes 99.6 crore and Link Investment 50 thousand shares. The issue will be open for subscription from April 25 to April 27. The issue will open for anchor investors on April 24. For this, a price band of Rs 1026-1080 and lots of 13 shares have been fixed.
Half of the issue is reserved for Qualified Institutional Investors (QIB), 15 per cent for Non-Institutional Investors (NII) and 35 per cent for retail investors. Kotak Mahindra Capital, Jefferies, IIFL Capital, Axis Capital and JP Morgan are the lead managers to the issue. After the success of the IPO, the allotment of shares will take place on May 3. After this, there will be an entry on NSE-BSE on 8th May.
Details about Mankind Pharma
Mankind Pharma was started by Ramesh Juneja. Private equity firms like Chris Capital and Capital International have invested in this. Talking about business, its maximum focus is on the domestic market and according to the results of FY2022, it gets 97.60 percent revenue from here. It has about 36 brands. It sells products under the brand names Manforce condoms, pregnancy test kit Prega News and emergency contraceptive brand Unwanted-72. It also manufactures and sells healthcare products such as antacid powders (Gas-O-Fast), vitamin and mineral supplements (Health OK brand) and anti-acne preparations (Acnestar brand).
