Mankind Pharma IPO: The Initial Public Offering (IPO) of Mankind Pharma Limited is going to hit the primary market on Tuesday, 25 April 2023 i.e. next week. public issue worth 4,326.36 crore will be open for bidding till 27 April 2023. The Public Issue is purely an Offer for Sale or OFS in nature and hence the Company will not receive any net proceeds from this Public Issue. the company has fixed Mankind Pharma IPO Price Band But since 1026 1080 per equity share and one lot of the IPO consists of 13 company shares.
Meanwhile, ahead of the opening of Mankind Pharma’s IPO, the company’s shares have debuted in the gray market. Mankind Pharma shares are available at a premium, according to market watchers 90 per equity share in the gray market today.
Here we list down the important details of Mankind Pharma’s IPO in 10 points:
1]Mankind Pharma IPO GMP today: Mankind Pharma shares are available at a premium, according to market watchers 90 per equity share in the gray market today.
2]Mankind Pharma IPO Price: The company has fixed the price band of Mankind Pharma’s IPO. since 1026 1080 per equity share.
3] Mankind Pharma IPO Date: The public issue will open on April 25, 2023 and will remain open till April 27, 2023.
4]Mankind Pharma IPO Lot Size: The bidder will be able to apply in lots and one lot will have 13 shares of the company.
5]Mankind Pharma IPO Investment Limit: Since one lot consists of 13 shares of the company, the minimum amount required to apply in the IPO is 14,040 ( 1080 x 13).
6]Mankind Pharma IPO Allotment Date: The tentative date of allotment of shares is May 3, 2023.
7]Mankind Pharma IPO Listing: IPO is proposed for listing on both BSE and NSE.
8]Mankind Pharma IPO listing Date: Share listing is likely to take place on 8 May 2023.
9]Mankind Pharma IPO Registrar: Keffin Technologies Ltd. has been appointed as the official registrar to the public offer.
10]Mankind Pharma IPO Review: On whether one should apply for a public issue or not, Reliance Securities says, “On FY23 annual financials, the IPO is valued at 32.2x P/E at the upper price band which is higher than its peers. Mankind Pharma Ltd. has several flagship brands. Across several categories. It is primarily focused on the domestic pharmaceutical market which has healthy growth potential. However, the company is heavily dependent on the medical representative-led sales model which has attracted regulatory scrutiny due to some unethical practices in the industry. has come under the radar of the authorities. The introduction of stricter norms regulating marketing practices by pharmaceutical companies may impact a company’s ability to effectively market its products.”
Reliance Securities further said that the valuation at 32.2x FY23 annualized earnings leaves limited upside and risk reward is not favorable in the current market conditions.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint. We advise investors to do due diligence with certified experts before making any investment decision.
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