Mankind Pharma IPO

Mankind Pharma IPO| Review

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Mankind Pharma Limited has come up with an initial public offer (IPO). It will open on March 25-27, 2023 at Rs.1,026-1,080 a share. The IPO issue size is around Rs.4,326.36 crores. The minimum bid will be for 13 shares and in its multiples thereafter.


Mankind Pharma Limited was incorporated in the year 1991. It is India’s fourth-largest pharmaceutical company in terms of Domestic Sales. The company is engaged in developing, manufacturing and marketing a diverse range of pharmaceutical formulations across various acute and chronic therapeutic areas. Its revenue from operations in India contributed to 97.60% of total revenue from operations for the Financial Year 2022.

The company is the youngest company among the five largest pharmaceutical companies in India, in terms of Domestic Sales in 2022. Mankind is one of the largest distribution networks of medical representatives in the Indian pharmaceutical market.



Ramesh Juneja – 2.64%Rajeev Juneja – 2.50%
Sheetal Arora – 5.97%Ramesh Juneja Family Trust – 20.81%
Rajeev Juneja Family Trust – 19.95%Prem Sheetal Family Trust – 15.42%

Promoter Holding

Pre-Issue Shareholding – 79.00%Post-Issue Shareholding – 

Strength & Weakness

Domestic-focused business of scaleSignificant revenue from limited no. of markets
Several products in a portfolioStricter norms regulating marketing practices
Established consumer healthcare franchiseRelated-party transactions in the past
Pan-India market and distribution coverageExposed to government price controls
Focus on affordability and accessibilityOperations are labor intensive
Professional management teamCompetitive market


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Company Financials

YearRevenue (in Crore)Profit (in Crore)

Objects of Issue

The company will not receive any proceeds from the Offer and all the Offer Proceeds will be received by the Selling Shareholders, in proportion to the Offered Shares sold by the respective Selling Shareholders as part of the Offer.

Mankind Pharma IPO Lot Size

Retail (Min)113Rs.14,040
Retail (Max)14182Rs.1,95,560
S-HNI (Min)15195Rs.2,10,600
B-HNI (Max)72936Rs.10,10,880

Mankind Pharma IPO Details

IPO Opening Date April 25, 2023
IPO Closing Date April 27, 2023
Face Value Rs.1 per Equity Share
IPO Price Rs.1,026-1,080 per share
Market Lot 13 shares
Minimum Order Quantity 13 shares
Listing At NSE, BSE
Fresh Issue– 
Offer for Sale40,058,844 shares
Issue Size Up to Rs.4,326.36 Crore
QIB Shares Offered 50% of the offer
Retail Shares Offered 35% of the offer 
NII/HNI Shares Offered 15% of the offer

Mankind Pharma IPO Timetable

IPO DateApril 25-27, 2023
Allotment DateMay 03, 2023
Initiation of RefundsMay 04, 2023
Credit of share to Demat a/cMay 05, 2023
IPO Listing DateMay 08, 2023

Allotment Status

KFintech  –

Book Lead Managers


About the author

Shankar Awale

Hey! I am Shankar Awale an aspiring blogger with an obsession for all things of Finance. This blog is dedicated to help people to learn about Financial Knowledge in easy language.

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