Mankind Pharma IPO: 1991 founded Delhi-based pharmaceutical company Mankind Pharma will open its initial public offering for public subscription on 25 April and close on 27 April, according to the red herring prospectus (RHP).
Anchor investors will start bidding on 24 April. The credit of equity shares will happen on 8 May, and the stock will get listed on NSE and BSE on 9 May.
The manufacturer of condom brand Manforce Condoms has set the band price for its shares at Rs 1,026-1,080 each share, making the IPO size Rs 43,264.36 crore at the top end of the band.
This initial share sale is entirely an Offer For Sales of 40.06 million shares by its existing shareholders and promoters.
The makeup of this OFS is as follows: Ramesh Juneja, Chairman of Mankind Pharma, will offload 3.71 million shares, followed by 3.51 million shares by Rajeev Juneja, 2.80 million shares by Sheetal Arora, 17.41 million by Cairnhill CIPEF Ltd, 2.62 million shares by Cairnhill CGPE Ltd, 9.96 million shares by Beige Ltd, and 50,000 shares by Link Investment Trust.
The net proceeds from the issue will entirely go to the selling shareholders, not to the company.
Kotak Mahindra Capital Company, Axis Capital, IIFL Securities, Jefferies India, and JP Morgan India are the book-running lead managers to the IPO.
Mankind Pharma creates, produces, and sells a wide variety of pharmaceutical formulations for acute and chronic conditions, along with a number of consumer healthcare items.
Mankind Pharma has established a number of consumer healthcare brands in categories like antacid powders (Gas-O-Fast), vitamin and mineral supplements (Health OK brand), and anti-acne preparations (AcneStar brand), among others, in addition to its well-known brands like Manforce Condoms, Prega News, and Unwanted-72.
The company has a pan-India marketing presence. It operates 25 manufacturing facilities.
As of December 2022, Mankind Pharma had a team of 600 scientists, with a dedicated in-house R&D center with four units at IMT Manesar, Gurugram (Haryana), and Thane (Maharashtra).