Mankind Pharma IPO is entirely an offer for sale (OFS) of 40,058,844 equity shares by promoters and other existing shareholders.
Mankind Pharma’s IPO will open for public subscription on Tuesday, April 25. The drug makers’ initial public offer will conclude on April 27, and the bidding for anchor investors will open on April 24, according to the red herring prospectus (RHP). The IPO is entirely an offer for sale (OFS) of 40,058,844 equity shares by promoters and other existing shareholders. The company will not receive any proceeds from the issue and the entire amount will go to the shareholders. The shares are likely to get credited on May 8, and list on stock exchanges on May 9, according to reports.
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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 Ltd2, 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, according to report. Kotak Mahindra Capital Company, Axis Capital, IIFL Securities, Jefferies India and JP Morgan India are the book-running lead managers to the issue.
Earlier this month, the Financial Express reported that Mankind Pharma expects to raise about Rs 4,500-4,700 crore through an initial public offering (IPO) by the end of April. “The company is looking to launch the IPO by the end of this month, depending on regulatory approvals. This would perhaps be one of the biggest IPOs of FY24 and will come at a time when fundraising from the capital markets are gaining steam. The firm is awaiting final approvals from the regulator,” the report said citing an unidentified source.
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Mankind Pharma is engaged in developing, manufacturing, and marketing a diverse range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products.
