Mankind Pharma IPO date and issue details have been finalised. The IPO will open for subscription between April 25-27, 2023. The Grey Market Premium (GMP) rates for Mankind Pharma Initial Public Offering (IPO) had started doing rounds from last week only.
As per market observers, Mankind Pharma IPO GMP started on the lower end of the estimated price band. On April 13, the Mankind Pharma IPO GMP started around Rs. 50 and has been increasing ever since.
IPO GMP today as on April 18, 2023 is around 90/-.
Mankind Pharma IPO share price is expected to be Rs 1,050-1,100 as per the sources, though is yet to be officially announced.
Mankind Pharma tentative date and details
- Date- April 25-27, 2023
- Size- Rs. 4,500 cr (tentative)
- Price band- Rs 1,000-1,100 (tentative)
- Retail lot- 13-15 (tentative)
- Retail quota- 35%
The company had filed its red-herring prospectus with Securities and Exchange Board of India (SEBI) in September 2022 to raise capital through an Initial Public Offering (IPO). According to its Company’s DHRP, its an offer for sale issue only, aimed at offloading nearly 40 million (40,058,844) equity shares held by the promoters and existing shareholders, eyeing to raise around Rs. 4,500 crore as per the report.
Mankind Pharma Private Limited, incorporated in 1991, is a pharmaceutical and healthcare products company and one of the biggest such Indian firms. In the financial year 2022, the company’s India revenue amounted to Rs. 7,594.7 cr.
Mankind Pharma’s IPO is expected to be the first big IPO this year after and second such for a pharmaceutical company since Gland Pharma’s IPO in November 2020.
The IPO market observers are keen on stating that the April’s second fortnight will belong to Mankind Pharma and that the IPO will be in demand. Current IPOs such as those of A G Universal and Retina Paints are not really hot among the investors.
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