Mankind Pharma makes strong debut at bourses

Delhi based Mankind Pharma He opened his account in the stock market, registering INR 1,300 per share. Shares of the company were at Rs 1,375 apiece at noon, on BSE, up about 27 per cent.

In the run-up to its listing, the company had Set its price range between 1,024-1,080 INR. This is the second largest IPO in the pharmaceutical sector in recent times, after Gland Pharma in late 2020. With proceeds close to Rs 8,000 crore, Mankind Pharma has a presence in the consumer pharma and healthcare sectors.

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.