Mankind Pharma IPO: Catch subscription update, issue price, lot size, listing date, other key details here

The initial public offer of Mankind Pharma — India's fourth-largest pharma company by domestic sales — oversubscribed on a third of the offer, it was subscribed 1.88 times as of 11:06 AM on Thursday.

The Mankind Pharma IPO received bids for 5.25 crore equity shares as against the 2.8 crore shares on offer, according to data available on the stock exchange BSE.

The three-day IPO was opened for subscription on Tuesday, April 25, 2023.

The IPO will close at the end of three trading sessions, on April 27, 2023.

On Monday, Mankind Pharma said it had raised Rs 1,298 crore from anchor investors.

Anil Singhvi's View on Mankind Pharma - should you subscribe?

Zee Business Managing Editor Anil Singhvi suggests investors to look at buying Mankind Pharma shares from a long-term perspective. He sees the valuation demanded by Mankind Pharma for its IPO as a bit expensive. Read More

"If a listing gain occurs, well and good, else focus on investing for the long term," the managing editor said in his view.

Here are a few important things to know about the Mankind Pharma IPO: 

Issue size: The company's IPO is entirely an offer for sale (OFS) of 40,058,844 equity shares by promoters and other existing shareholders. At the upper end of the price band, the IPO size is estimated at Rs 4,326 crore.

Issue price: The issue has a price band of Rs 1,026-1,080 a share. Potential investors can bid for Mankind Pharma shares in multiples of 13 under the IPO. 

Investor reservation: Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors, and the remaining 15 per cent for non-institutional investors.

Investment banks: Kotak Mahindra Capital Company, Axis Capital, IIFL Securities, Jefferies India and JP Morgan India are the book-running lead managers to the issue.

Listing date: The equity shares of the company are likely to be listed on bourses BSE and NSE on May 9.

About the company: 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. It has established several differentiated brands in condoms, pregnancy detection, emergency contraceptives, antacid powders, vitamin and mineral supplements, and anti-acne preparation categories.

As of December 2022, the company had a team of over 600 scientists and a dedicated in-house R&D center with four units located at IMT Manesar, Gurugram (Haryana) and Thane (Maharashtra).

With Inputs from PTI