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Journalism of Courage
The initial public offering (IPO) of Mankind Pharma opened for subscription today, i.e, April 25, 2023. At Rs 4,326 crore, this will be the first biggest IPO in terms of the issue size. The IPO of Mankind Pharma, which owns as many as 36 brands including Prega News and Manforce, will be the second initial public offering by a company in the current calendar year, after Avalon Technologies.
Here’s everything you need to know about Mankind Pharma’s IPO:
Bidding dates: The public offer for Mankind Pharma opened today at 10 am, and will close on Thursday, April 27, 2023.
Price band: The pharmaceutical company has fixed a price band of Rs 1,026-1,080 per share for its Rs 4,326-crore IPO.
Offer size: The company’s IPO is entirely an offer for sale (OFS) of 40,058,844 equity shares by promoters and other existing shareholders.
The company will raise Rs 4,110.03 at the lower price band, and Rs 4,326.35 crore at the higher band.
Those selling shares in Mankind Pharma in the OFS are promoters Ramesh Juneja, Rajeev Juneja, and Sheetal Arora. Besides, Cairnhill CIPEF, Cairnhill CGPE, Beige Limited, and Link Investment Trust will also be offloading their shares in the OFS.
IPO lot size and investment limit: Retail investors can apply in lots, for up to Rs 2 lakh. One lot of the IPO comprises 13 shares. The minimum investment limit for Mankind Pharma IPO for a retail investor is Rs 13,338 (Rs 1,026*13).
IPO allotment date: The shares will most likely be allotted on May 3.
Mankind Pharma IPO listing date: The company’s public issue will most likely list on the NSE and BSE on May 8.
