Mankind Pharma is planning to sell shares via initial public offering (IPO) starting April 25 and the issue for anchor investors will open on April 24. The company is planning to raise Rs 4,326 crore from the IPO which is purely an offer for sale (OFS) by its promoters Ramesh Juneja, Rajeev Juneja and Sheetal Arora. Besides, Cairnhill CIPEF, Cairnhill CGPE, Beige Limited, and Link Investment Trust.
Since the IPO is completely an OFS, the company will not receive any net proceeds from the issue and the entire net proceeds will go to the selling shareholders.
Mankind Pharma IPO Price Band and Lot Size
Mankind Pharma is planning to sell shares in the price band of Rs 1,026-1,080 per share and a retail investor can bid for minimum one lot of 13 shares and up to maximum of 14 lots. At the upper end of the price band, one lot of Mankind Pharma will cost Rs 14,040.
The company has reserved 50 per cent of shares in the IPO for qualified institutional buyers (QIBs) which include banks, FIIs and financial institutions, 35 per cent shares in the IPO are reserved for retail investors and 15 per cent are set aside for non-institutional investors (NIIs) which include high net worth individuals (HNIs).
Makind Pharma IPO Dates
Mankind Pharma's share sale via IPO will start on April 25 and conclude on April 27.
Mankind Pharma IPO Lead Managers and Registrar
Kotak Mahindra Capital Company, Axis Capital, IIFL Securities, Jefferies India and JP Morgan India are the book running lead managers for the IPO while KFin Technologies in the registrar.
About Mankind Pharma
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.
It has a pan-India marketing presence and operates 25 manufacturing facilities across the country.
