The Mankind IPO was an offer for sale of up to 40.06 million equity shares entirely by the promoters and other existing shareholders.
Shares of Mankind Pharma are currently trading at a premium of Rs 108 or 10 per cent above the upper band of Rs 1,080 per share in the gray market.
humanity IPO GMP: Mankind Pharma’s Initial Public Offering (IPO) was open for public subscription during April 25-27 and received a good response with overall subscription at 15.32 times. The shares of the company are going to be listed on BSE and NSE on Monday, 8th May.
mankind ipo gmp today
Mankind Pharma’s stock is currently trading at Rs 108, or 10 per cent higher, in the gray market in the upper band of Rs 1,080 per scrip. Hence, the shares are currently trading at Rs 1,188 on May 8 in the gray market. This indicates that the shares of the company are expected to be listed on May 8, 2023 at a good premium to their issue price. The premium fluctuates on the sentiments in the markets.
On the company’s IPO price, analysts at brokerage firm Anand Rathi have said, “At the higher of the issue price band (Rs 1,080), the stock is valued at approximately 30x FY22 EPS at Rs 36. Pharma companies bid at an average P/. e of 25x/22x FY24e/FY25e. We expect the company’s strong set of brands, focused approach to its legacy portfolio through recent acquisitions, launches and differentiated pipeline products to be key positives. However, the risks are in addition to NLEM lists, increase in raw material prices.”
Mankind Pharma IPO: Basic Details
Mankind Pharma is engaged in developing, manufacturing and marketing a diverse range of pharmaceutical formulations in various acute and chronic therapeutic areas as well as a number of consumer health care products.
It has established several distinct brands in the categories of condoms, pregnancy detection, emergency contraceptives, antacid powders, vitamin and mineral supplements, and anti-acne preparations.
It has a pan-India marketing presence and operates 25 manufacturing facilities across the country. By December 2022, the company had a team of over 600 scientists and a dedicated in-house R&D center with four units at IMT Manesar, Gurugram (Haryana) and Thane (Maharashtra).
The IPO was an offer for sale (OFS) of 40.06 million equity shares entirely by the promoters and other existing shareholders. Its price band was fixed at Rs 1,026-1,080 per share. Bidders placed bids for a minimum of one lot and a maximum of 13 lots in the Rs 4,326 crore IPO. There were 13 shares of Mankind Pharma in the lot.
MannKind’s FY22 revenue grew 25 percent, driven by volume (17ppts), price growth (4 percent ppts) and launches (4ppts), compared to 9M FY23 growth of 9 percent. Lower GM and higher costs resulted in a 23 percent EBITDA margin in 9M FY23 (FY22: 25.6 percent). 9M FY23 EPS slipped 20 per cent y/y to 25 (FY22: Rs 36). FCF 9M was Rs 6.3 billion in FY23 (negative Rs 14.2 billion in FY22 due to acquisitions).
read all latest business news, tax news And stock market update Here
