Mankind Pharma IPO Debut with 20% Premium:
The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) welcomed Mankind Pharma, the fourth-largest pharmaceutical and consumer health firm in India, on May 9. The company’s shares were priced at Rs 1,300 a share when they were listed on the NSE and BSE, which is a 20.4% premium over the share’s initial issue price of Rs 1,026–1,080. Mankind Pharma’s approximately Rs 4,300 crore initial public offering (IPO) had a subscription period that started on April 25 and ended on April 27.
Since Gland Pharma’s Rs 6,480 crore IPO in 2020, the pharmaceutical company’s Rs 4,326 crore IPO is the largest issuance in a single year. With a 15.32 times subscription on the final day of the sale, the IPO got a resoundingly positive reaction. Retail Individual Investors (RIIs) obtained a subscription of 0.92 times, followed by Non-Institutional Investors (NIIs) with 3.8 times and Qualified Institutional Buyers (QIBs) with 49.16 times.
Kotak Mahindra Capital Company Limited, Axis Capital Limited, IIFL Securities Limited, Jefferies India Private Limited, and J.P. Morgan India Private Limited served as the issue’s lead managers.
The whole Mankind Pharma IPO is an offer for sale, or OFS, which implies that no funds will be received by the firm. The promoters will own 78% of the shares after the listing, while private equity will hold 12%.
Mankind Pharma received Rs 1,298 crore from anchor investors prior to the start of its maiden share offering. 44 domestic mutual fund firms that took part in the anchor round through various programs are among the 77 anchor investors. ICICI Pru MF, SBI Mutual Fund, and HDFC Mutual Fund are some of the illustrious domestic fund institutions that have participated.
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Due to its accessibility and affordability, Mankind Pharma, the maker of well-known goods including Manforce, PregaNews, and Unwanted 72, has experienced tremendous growth in popularity among customers. 98% of the company’s revenues come from India, with pharma making up 90% of those sales and consumer health making up 9% to 10%. 47% of sales occur in Tier 2-4 cities and rural regions, compared to 37% in industry.
According to Hemang Jani of Motilal Oswal, “Mankind Pharma received good response from its anchor clients given its domestic-focused business with strong brand recall in both chronic and consumer healthcare segment.” Given its solid financial history, concentration on the local area, and extensive network, humanity is predicted to continue thriving.
In comparison to India’s pharma growth of 11%, the company recorded a compound annual growth rate of 16% from FY20 to FY22.
About Mankind Pharma:
Based in Delhi, Mankind Pharma is a healthcare and pharmaceutical firm that offers a wide range of products in various therapeutic categories, including antibiotics, gastrointestinal medicines, cardiovascular drugs, dermal treatments, and erectile dysfunction medications.
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