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Mankind Pharma IPO: The initial public offering (IPO) of Mankind Pharma Limited is going to hit primary market on 25th April 2023 i.e. on Tuesday next week. The public issue worth ₹4,326.36 crore will remain open for bidding till 27th April 2023. The public issue is completely offer for sale or OFS in nature and hence the company won’t get any net proceed from this public issue. The company has fixed Mankind Pharma IPO price band at ₹1026 to ₹1080 per equity share and one lot of the IPO comprises 13 company shares.
Meanwhile, ahead of Mankind Pharma IPO opening, shares of the company have made debut in grey market. According to market observers, Mankind Pharma shares are available at a premium of ₹90 per equity share in grey market today.Here we list out important Mankind Pharma IPO details in 10 points:
1] Mankind Pharma IPO GMP today: According to market observers, Mankind Pharma shares are available at a premium of ₹90 per equity share in grey market today.
2] Mankind Pharma IPO price: The company has fixed Mankind Pharma IPO price band at ₹1026 to ₹1080 per equity share.
3] Mankind Pharma IPO date: The public issue will open on 25h April 2023 and it will remain open till 27th April 2023.
4] Mankind Pharma IPO lot size: A bidder will be able to apply in lots and one lot will comprise 13 company shares.
5] Mankind Pharma IPO investment limit: As one lot comprises 13 company shares, minimum amount required for applying to the IPO is ₹14,040 ( ₹1080 x 13).
6] Mankind Pharma IPO allotment date: The tentative date for share allocation is 3rd May 2023.
7] Mankind Pharma IPO listing: The IPO is proposed for listing on both BSE and NSE.
8] Mankind Pharma IPO listing date: Share listing is most likely on 8th May 2023.
9] Mankind Pharma IPO registrar: Kfin Technologies Limited has been appointed as official registrar of the public offer.
10] Mankind Pharma IPO review: On whether one should apply or not for the public issue, Reliance Securities says, “On FY23 annualized financials, the IPO is valued at 32.2x P/E at the upper price band which is higher than its peers. Mankind Pharma has several leading brands across multiple categories. It is primarily focused on the domestic pharmaceutical market which has healthy growth potential. However, the company is heavily dependent on the medical representative led sales model which has come under the radar of regulatory authorities due to certain unethical practices in the industry. Introduction of stricter norms regulating marketing practices by pharmaceutical companies could affect the company’s ability to effectively market its products.”
Reliance Securities went on to add that the valuation at 32.2x FY23 annualized earnings leaves limited upside and risk reward is not favorable in current market situation.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
