New Delhi: The initial share-sale of drug maker Mankind Pharma opened for public subscription on Tuesday. The three-day initial public offering (IPO) will end on April 27.
Mankind Pharma IPO GMP
As per the reports, the latest GMP of Mankind Pharma suggests a premium of Rs 90, suggesting that the stock will make a good debut in the bourse list.
Mankind IPO Stock Market Listing
Following the public subscription, the shares of Mankind Pharma are expected to go live on the stock exchanges on May 8, 2023.
Mankind IPO Details
The company’s IPO is an offer for sale (OFS) of 40,058,844 equity shares entirely by the promoters and other existing shareholders. Promoters Ramesh Juneja, Rajeev Juneja and Sheetal Arora are among those who sold shares in the OFS. In addition, Cairnhill CIPEF, Cairnhill CGPE, Bez Limited and Link Investment Trust will participate in the OFS. Since the IPO is purely an OFS, the company will not receive any net proceeds from the issue and the entire net proceeds will go to the selling shareholders.
Kotak Mahindra Capital Company, Axis Capital, IIFL Securities, Jefferies India and JP Morgan India are the book-running lead managers to the issue.