Mankind Pharma IPO: GMP jumps ahead of share allotment date

Ahead of the share allotment date of Mankind Pharma IPO, GMP jumps against the issue price indicating an upside premium to the listing. The expected listing price for the Mankind Pharma IPO is 1159 (cap price plus today’s GMP), according to market experts, who believe that the GMP (grey market premium) for the IPO is now 79. As per today’s GMP, the expected listing premium thus works out to 7.31%.

The Mankind Pharma Initial Public Offering (IPO) has been subscribed 15.32% for a total of 42,95,12,902 shares up to 2023-04-27. The retail category of Mankind Pharma IPO was oversubscribed 0.92 times on the previous subscription day for a total of 1,28,56,038 shares against the issued 1,40,20,596 shares. The Mankind Pharma IPO NII subscription was 3.8 times the number of shares offered (60,08,827) with a total bid of 2,28,22,761 shares for the NII category. The Mankind Pharma IPO QIB subscription was subscribed 49.16 times, and a total of 39,38,34,103 shares were bid against against the offer of 80,11,769 shares.

The lead managers to the Mankind Pharma IPO include Kotak Mahindra Capital Company, Axis Capital, IIFL Securities, Jefferies India Pvt and JP Morgan India Pvt Ltd. The IPO opens for subscription on April 25, 2023 and closes on April 27, 2023. Mankind Pharma IPO listing date has not been made official yet, May 8, 2023, is the anticipated day.