IPO screener: Mankind Pharma listing today – May 9, 2023

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Mankind Pharma shares will be listed on the stock exchanges today. The company has set the IPO price at Rs 1,080, at the upper end of the price range, Rs 1,024-1,080.

Mankind Pharma’s Rs 4,326 crore initial share sale was subscribed 15.32 times on the last day of bidding last Thursday.

The IPO was entirely an offer for sale by the promoters and existing shareholders of the company, who sold about 4 crore shares at a par value of $1 each.

Shareholder sale

The promoters, Ramesh Juneja will sell 37.05 shares, Rajiv Juneja 35.05 shares and Sheetal Arora will sell 28.04 shares. The offer also includes the sale of shareholder investors: Rs. 1.74 crore shares of Cairnhill CIPEF Ltd; 26.23 lakh of shares of Cairnhill CGPE Ltd; 99.64 lakh shares of Beige Ltd; and 50,000 shares by Link Investment Trust.

The main investors

As part of the IPO exercise, Mankind has raised ₹1,297.90 crore from anchor investors by deciding to allocate 1.20 crore shares at a price of ₹1,080 per share. Among them are the Canada Pension Plan Investment Board (4.82 lakh shares), Government of Singapore (4.09 lakh shares), Goldman Sachs (4.82 lakh shares), ICICI Prudential Pharma Healthcare and Diagnostics (4.82 lakh shares), National Pension Service by Blackrock, Ashoka Opportunities India, Global Government Pension Fund, DSP Health Care Fund, and Nomura Funds – Ireland Public Ltd (3.89 lakh shares each). 77 principal investors were allocated overall among them and 42 to local microfinance schemes.

Mankind Pharma Ltd (MPL) is the fourth largest pharmaceutical company in India by domestic sales and the third largest by sales volume. With 97 percent of its revenue from India, MPL sells pharmaceuticals and consumer healthcare goods, operates 25 manufacturing sites and a dedicated four-department R&D center.