Mankind IPO to hit the Street soon: 10 things to know

Mankind Pharma IPO: Mankind Pharma, India's fourth-largest pharma company by domestic sales, is all set to launch an initial share sale on Tuesday, April 25. The company opened its anchor book for institutional investors on April 24. The Mankind Pharma IPO is the fifth primary market offering to hit Dalal Street in 2023, after Divgi TorqTransfer Systems, Global Surfaces, Udayshivakumar Infra and Avalon Technologies.

Here are 10 key things to know about the upcoming Mankind Pharma IPO:

Mankind Pharma IPO: Important dates
Bidding under the IPO of the drug maker will be available to the public from April 25 to April 27, 2023.

The basis of allottment of shares will likely be finalized on May 3, and the credit of shares and initiation of refunds (whichever applicable) to will likely take place on May 5.

Mankind Pharma: Anchor book
The anchor book opened on April 24, a day ahead of the launch of the IPO.

Mankind Pharma shares are likely to be listed on stock exchanges BSE and NSE on May 8.

Mankind Pharma IPO: Issue price band
The company has fixed a price band of Rs 1,026-1,080 a share for its Rs 4,326-crore IPO.

Mankind Pharma IPO: Lot size
Potential investors will be able to bid for Mankind Pharma shares in multiples of 13 under the IPO. This translates to Rs 13,338-14,040 per lot.

Mankind Pharma IPO: Offer size
Mankind Pharma's IPO is entirely an offer for sale (OFS) of more than four crore equity shares by existing shareholders and promoters. At the upper end of the price band, the IPO size is estimated at Rs 4,326 crore.

Mankind Pharma IPO: Know the key promoters and shareholders
Promoters Ramesh Juneja, Rajeev Juneja and Sheetal Arora will be participating in the OFS. Besides, Cairnhill CIPEF, Cairnhill CGPE, Beige Limited and Link Investment Trust are among the shareholders participating in the OFS.

Mankind Pharma: Investor reservation
Half of the issue has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors, and the remaining 15 per cent for non-institutional investors (NIIs).
Mankind Pharma IPO: Use of proceeds

The company will not get any money from the offer as shares are being sold by shareholders. All the money raised will go to the selling shareholders' accounts.

Mankind Pharma IPO: Key risks
The drug maker has listed a few internal and external risks to its business.

For instance, any disruption, slowdown or shutdown in the manufacturing of its R&D operations could affect the business of Mankind Pharma, which operates 23 manufacturing facilities across the country, according to its red herring prospectus. Its ongoing investments in new product launches and R&D for future products could result in higher costs without a proportionate increase in revenues. Uncertainties relating to the global economy may adversely affect the company's business as Mankind is exposed to many a slew of industries and companies. Additionally, inflation could affect its pricing, according to the RHP.

Read more on key risks for Mankind Pharma

Mankind Pharma IPO: Lead managers
Kotak Mahindra Capital Company, Axis Capital, IIFL Securities, Jefferies India, and JP Morgan India are the book-running lead managers to the offer.