Mankind Pharma, India’s second-largest pharmaceutical company in terms of sales volume for the financial year 2022, IPO will open for subscription on April 25 and close on April 27
The anchor bidding for Mankind Pharma IPO will start on April 24. Credit of equity shares will be on May 8, and the stock will be listed on exchanges on May 9
The Mankind Pharma IPO consists of a pure offer for sale (OFS) of up to 40.06 million shares by its existing shareholders and promoters
Mankind Pharma expects to raise about Rs 4,500-4,700 crore through an initial public offering (IPO) by the end of April. This would perhaps be one of the biggest IPOs of FY24, according to reports
The OFS comprises upto 3.71 million shares by Ramesh Juneja, upto 3.51 million shares by Rajeev Juneja, 2.80 million shares by Sheetal Arora, upto 17.41 million by Cairnhill CIPEF Ltd, upto 2.62 million shares by Cairnhill CGPE Ltd, upto 9.96 million shares by Beige Ltd, and upto 50,000 shares by Link Investment Trust
Mankind Pharma, which manufactures the popular condom brand Manforce Condoms, pregnancy test kit Prega News, and emergency contraceptive brand Unwanted-72, is supported by private equity firm Chrys Capital and Capital International
Apart from its popular Manforce Condoms, Prega News, and Unwanted-72 brands, Mankind Pharma has also established a range of consumer healthcare brands in categories such as antacid powders, vitamin and mineral supplements, and anti-acne preparations, among others
Kotak Mahindra Capital, Jefferies, IIFL Capital, Axis Capital, and JP Morgan are the lead managers to the IPO. Meanwhile, Shardul Amarchand Mangaldas, Cyril Amarchand Mangaldas, AZB & Partners, and Sidley Austin are the law firms involved in the deal
Mankind Pharma has a strong focus on the domestic market, with revenue from operations in India accounting for 97.60 percent of its total revenue in the financial year 2022. The company has developed 36 brands in the pharmaceutical business and boasts one of the largest networks of medical representatives in the Indian pharmaceutical market
Mankind Pharma has a pan-India marketing presence and operates 25 manufacturing facilities across the country. As of December 2022, the company had a team of over 600 scientists and a dedicated in-house R&D centre with four units located at IMT Manesar, Gurugram (Haryana) and Thane (Maharashtra)