Mankind Pharma’s Initial Public Offer (IPO) has been subscribed 49% till 14:27 IST on Day 2. The issue received response from non-institutional investors (NIIs) who subscribed around 63%, retail investors subscribed around 18% and qualified institutional investors (QIBs) subscribed 92% of the quota allotted to them.
As per BSE data, at 14:27 IST, the company received bids for 1,37,00,271 shares against 2,80,41,192 shares on offer.
The QIB portion received bids for 73,39,579 against 80,11,769 shares on offer for this segment.
A guide to all you need to know about the Mankind Pharma IPO
The portion of non-institutional investors received bids for 38,12,055 shares against 60,08,827 on offer for this segment.
Retail investors’ share received bids for 25,48,637 shares against 1,40,20,596 shares on offer for this segment. However, the employees’ portion did not receive any contribution.
The issue opens for subscription on Tuesday, April 25 and will close on Thursday, April 27. The company has fixed the price band from 1,026 1,080 per equity share for the proposed initial public offer.
The IPO received 14 per cent subscription on the first day. The issue received response from non-institutional investors (NIIs) who subscribed about 33%, retail investors who subscribed about 10% and qualified institutional investors (QIBs) who subscribed 8% of the quota allotted to them.
The Public Offer, consisting of a net offer-for-sale (OFS) of 40,058,844 equity shares by the promoters and other existing shareholders, has a face value of Re 1 per equity share.
The company intends to increase the maximum 4,326.36 crore at the upper band of the price range.
The offer is being made through a book-building process, wherein not less than 15% of the offer should be available to non-institutional investors and not less than 35% of the offer to retail individual investors. Not more than 50% of the Offer may be allotted to Qualified Institutional Buyers.
Mankind Pharma IPO: GMP, Membership Status, Reviews, Other Details. Buy or not?
The Book-Running Lead Managers (BRLMs) to the Issue are Kotak Mahindra Capital Company Limited, Axis Capital Limited, IIFL Securities Limited, Jefferies India Private Limited and JP Morgan India Private Limited.
KFin Technologies Ltd is the Registrar for the IPO. The shares are proposed to be listed on BSE, NSE on Monday, May 8.
Also Read: Mankind Pharma Increases Profits Rs 1,298 crore from anchor investors ahead of IPO
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