Mankind Pharma Makes A Strong Debut Shares List At 20 Premium Over Ipo Price

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Mankind Pharma makes a strong debut, shares list at 20% premium over IPO price

ri-calendar-2-lineMay 9, 2023

By: BlinkX Research Team

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Shares of Mankind Pharma made a bumper listing on the stock exchanges today. The shares are listed at a premium of 20.37% over the issue price of Rs 1,300 apiece.  

Shares of Mankind Pharma were trading at Rs 1,390.55 apiece, up 28.75% on the National Stock Exchange. The market capitalization of the company has jumped to Rs 55,830 crore.

Mankind Pharma is the fourth-largest Indian pharmaceutical company in terms of domestic sales and the third-largest in terms of sales volume. The pharmaceutical company, which also owns the at-home pregnancy testing kit Prega News, opened for public subscription on April 25 to April 27.  The IPO price has been fixed at Rs 1,080.

The Rs 4,326 crore IPO of Mankind Pharma, which was completely an offer for sale (OFS), received an overwhelming response, as the issue was subscribed for a whopping 15.32 times. The overall subscription of the issue was 15.32 times at close. The QIB part was subscribed 49 times, and the portion for high net-worth individuals was subscribed 3.8 times. However, retail investors didn't show much interest in the IPO.

It has a pan-India presence and operates 25 manufacturing facilities across the country. As of December 2022, the company had a team of over 600 scientists and a dedicated in-house R&D centre with 4 units located at IMT Manesar, Gurugram and Thane.

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