Key Points of Mankind Pharma IPO Price Range:
- Mankind Pharma has set the share price range for its upcoming IPO with the support of private equity firm ChrysCapital.
- The share price range is between Rs 1,026 and Rs 1,080 per share, valuing the company at Rs 43,264 crore at the upper end of the band.
- The IPO is an offer for sale of up to 40.06 million shares and will open for subscription on April 25 and close on April 27.
- The firm plans to raise as much as Rs 4,326.36 crore at the upper end of the price range.
- Mankind Pharma is a fully integrated pharmaceutical company that focuses mainly on the domestic market, with revenue from operations in India accounting for 97.60% of its total revenue in the financial year 2022.
- The company has developed 36 brands in the pharmaceutical business, including Manforce Condoms, Prega News, Unwanted-72, and other consumer healthcare products.
- The IPO comprises a pure offer for sale of shares by its existing shareholders and promoters, including Ramesh Juneja, Rajeev Juneja, Sheetal Arora, Cairnhill CIPEF Ltd, Cairnhill CGPE Ltd, Beige Ltd, and Link Investment Trust.
- The stock will be listed on exchanges on May 9, and equity shares will be credited on May 8. The anchor bidding will start on April 24.
Details of Mankind Pharma IPO Price Range:
Mankind Pharma, the manufacturer of Manforce Condoms and other popular healthcare products, has announced the share price range for its upcoming initial public offering (IPO). Private equity firm ChrysCapital, which backs the company, has set the share price range between Rs 1,026 and Rs 1,080 per share, valuing the company at Rs 43,264 crore at the upper end of the band. The IPO, which consists of an offer for sale of up to 40.06 million shares, will open for subscription on April 25 and close on April 27. The firm plans to raise as much as Rs 4,326.36 crore at the upper end of the price range.
Mankind Pharma, founded by Ramesh Juneja, is a fully integrated pharmaceutical company that develops, manufactures, and markets a diverse range of pharmaceutical formulations and consumer healthcare products. The company’s focus is mainly on the domestic market, with revenue from operations in India accounting for 97.60% of its total revenue in the financial year 2022. Mankind Pharma boasts one of the largest networks of medical representatives in the Indian pharmaceutical market and has developed 36 brands in the pharmaceutical business.
In addition to Manforce Condoms, the company manufactures pregnancy test kit Prega News, emergency contraceptive brand Unwanted-72, and other consumer healthcare products such as antacid powders (Gas-O-Fast), vitamin and mineral supplements (Health OK brand), and anti-acne preparations (AcneStar brand), among others.
The IPO comprises a pure offer for sale of shares by its existing shareholders and promoters, including Ramesh Juneja, Rajeev Juneja, Sheetal Arora, Cairnhill CIPEF Ltd, Cairnhill CGPE Ltd, Beige Ltd, and Link Investment Trust. Kotak Mahindra Capital, Jefferies, IIFL Capital, Axis Capital, and JP Morgan are the lead managers to the IPO, while Shardul Amarchand Mangaldas, Cyril Amarchand Mangaldas, AZB & Partners, and Sidley Austin are the law firms involved in the deal.
The stock will be listed on exchanges on May 9, and equity shares will be credited on May 8. The anchor bidding will start on April 24.
About Mankind Pharma:
Mankind Pharma, a healthcare products and pharmaceutical company based in Delhi, offers a range of therapeutic products, including antibiotics, gastrointestinal medications, cardiovascular drugs, dermal medications, and treatments for erectile dysfunction.
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