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.
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.