The pricing range for Mankind Pharma’s intended initial public offer (IPO) has been set at Rs. 1,026 to Rs. 1,080. The public version is available for subscription beginning on April 25 and lasts until April 27.
The Game Plan
Promoters and other current shareholders’ 40,058,844 equity shares are put up for sale in the company’s initial public offer (IPO). Equity shares have a face value of one rupee per share.
As per The Economic Times, a total of 3,705,443, 3,505,149, and 2,804,119 equity shares will be sold by promoters Ramesh Juneja, Rajeev Juneja, and Sheetal Arora, respectively.
Investors such as Cairnhill CIPEF Limited, Cairnhill CGPE Limited, Beige Limited, and Link Investment Trust will be selling their holdings in addition to the promoters.
Qualified institutional investors (QIB) are limited to a quota of 50% of the total shares offered, while retail individual investors (RIIs) are limited to a percentage of 35%. The subscription quota for non-institutional investors (NIIs) is 15%.
The corporation has said that the proceeds from the OFS would go to the selling shareholders rather than the company.
All About Mankind Pharma
Mankind Pharma creates, produces, and sells a wide variety of pharmaceutical formulations for acute and chronic conditions and several consumer healthcare items.
Condoms, pregnancy tests, emergency contraceptives, antacid powders, vitamin and mineral supplements, and anti-acne preparations are just a few of the sectors in which it has built multiple distinct trademarks.
The company employed more than 600 scientists as of December of the previous year, and it had a specialized internal R&D department with four divisions in IMT Manesar, Haryana, and Maharashtra.
Mankind Pharma places a lot of emphasis on the home market; in the fiscal year 2022, 97.60% of its entire income came from operations in India.
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