Mankind Pharma, the domestic-focused fourth-largest pharmaceutical company in the Indian pharma market, has finalised its IPO share allotment. The participants can check their allotment status either on the BSE website or the portal of the IPO registrar by following a few easy steps.
On the BSE,
a) Select issue type "equity" and issue name "Mankind Pharma Limited"
b) Enter either "application number" or "PAN number"
c) Check box "I'm not a robot", and click on "search" button
Alternatively on the IPO registrar portal,
a) Select IPO "Mankind Pharma Limited"
b) Select and accordingly enter either "application number", or "demat account", or "PAN number"
c) Enter "captcha" and click on "submit" button
The retail investors are expected to get full share allotment given their portion was undersubscribed, considering the huge subscription numbers, while qualified institutional buyers (QIBs) are likely to get shares on a proportionate basis.
The refunds will be credited to the bank accounts of unsuccessful investors by May 4 and the equity shares will be transferred to eligible participants by May 5.
Mankind Pharma will make its debut on the BSE and NSE on May 8 as per the schedule.
At the time of writing this article, IPO shares traded with little more than 7 percent premium over the expected final issue price of Rs 1,080 per share in the grey market, analysts on anonymity said.
The grey market is an unofficial trading platform for IPO shares, where investors look for the expected listing price.
Mankind Pharma closed its public issue last week on April 27 with a 15.32 times subscription as qualified institutional buyers provided the maximum support to the IPO by buying 49.16 times the allotted quota. High networth individuals (HNIs) have bid 3.8 times the portion set aside for them and while retail investors subscribed to around 92 percent.
The maiden public issue fetched the company Rs 4,326 crore comprising only an offer for sale by promoters and investors. The price band for the offer was Rs 1,026-1,080 per share.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.