Mankind Pharma, whose Rs 4,326.36 crore initial public offer (IPO) received a strong response from the investors during the bidding process, is likely to announce its allotment of shares on Wednesday, May 03, 2023.
The IPO of India’s fourth largest pharmaceutical company received a strong response from the investors and was overall subscribed 15.32 times. The issue was open for subscription between April 25-27 in the price range of Rs 1,026-1,080 per share.
The quota reserved for qualified institutional bidders was subscribed 49.16 times, while the portion for non-institutional bidders was booked 3.80 times. The allocation of retail investors was subscribed 92 per cent. Last head, Mankind Pharma was commanding a premium of Rs 90-100 in the grey market.
A majority of the brokerage firms are positive on the issue and suggest investors subscribe to the issue on a long-term basis, citing the dominant market position, strong financials, defensive sector and robust growth outlook. However, some analysts have raised red flags over rich valuations and the complete OFS nature of the issue, capping room for any stellar upside.
Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Mankind Pharma Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit submit
Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus.
The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries after the issue is completed.
1) Go to the web portal of KFin Technologies Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.
Bidders who could not get allotment in the IPO may see the initialisation of refunds on May 04. Others, who would be allotted shares may see the credit of shares, in the Demat account by May 05. The listing of the IPO is likely on May 08.
Incorporated in 1991, Mankind Pharma develops, manufactures, and markets pharmaceutical formulations across various acute and chronic therapeutic areas and several consumer healthcare products. It has over 36 brands across the segments Including anti-infectives, cardiovascular, gastrointestinal, anti-diabetic, well-being and respiratory.
Also read: Can Maruti Suzuki India shares drive past Rs 10,000 mark? Here's what brokerages say
Also read: Kotak Mahindra Bank shares: Stock price targets post Q4 results suggest limited upside ahead