Mankind Pharma, the company behind popular pharmaceutical brands like Prega News, Manforce Condoms, and Unwanted-72 will open it’s 3 days initial public offering (IPO) for subscription during April 25-27, and the bidding for anchor investors will open on April 24.

MUMBAI, 19 APRIL, 2023 (GPN): Drug Manufacturers and Conglomerate Mankind Pharma on Wednesday said it has fixed a price band of ₹1,026-1,080 a share for its ₹4,326-crore initial public offering (IPO).

The three-day initial public offering (IPO) will open for subscription during April 25-27, and the bidding for anchor investors will open on April 24, the company announced.

The company’s IPO is entirely an offer for sale (OFS) of 40,058,844 equity shares by promoters and other existing shareholders.

Those selling shares in the OFS are promoters Ramesh Juneja, Rajeev Juneja and Sheetal Arora. Besides, Cairnhill CIPEF, Cairnhill CGPE, Beige Limited, and Link Investment Trust will participate in the OFS.

Since the IPO is completely an OFS, the company will not receive any net proceeds from the issue and the entire net proceeds will go to the selling shareholders.

At the upper end of the price band, the IPO size is estimated at ₹4,326 crore.

Half of the issue size has been reserved for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.

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.

It has established several differentiated brands in condoms, pregnancy detection, emergency contraceptives, antacid powders, vitamin and mineral supplements, and anti-acne preparation categories. It has a pan-India marketing presence and operates 25 manufacturing facilities across the country.

Mankind Pharma has launched an exclusive OTT platform for doctors, titled Docflix. The OTT is aimed at delivering engaging scientific content by the doctors for the doctors.

The specialised content will be available in the form of short and long videos, which will primarily help doctors take quick clinical decisions.

Sanjay Koul, senior president of Mankind Pharma (India business), said, “It is an OTT platform with a wide range of scientific content tailored to various practice needs of doctors. Design, story and convenience are three pillars of the platform that will deliver reliable scientific content.”

Mankind Pharma, a leading pharmaceutical company, stated that the OTT platform will have 20 different shows on varied subjects.

As of December 2022, the company had a team of over 600 scientists and a dedicated in-house R&D centre with four units located at IMT Manesar, Gurugram (Haryana) and Thane (Maharashtra).

Kotak Mahindra Capital Company, Axis Capital, IIFL Securities, Jefferies India and JP Morgan India are the book-running lead managers to the issue. The equity shares of the company will be listed on May 9 on the BSE and NSE.Ends