Mankind Pharma to open anchor book for Rs 4,300-crore IPO today

Mankind Pharma, India’s fourth largest pharmaceutical company in terms of domestic sales and second largest in terms of sales volume for the financial year 2022, will float its first public issue on April 25 and bidding will close on April 27. The anchor bidding will start today.

Credit of equity shares will be on May 8 and the stock will be listed on exchanges on May 9.

The Rs 4,326.36-crore public issue consists of a pure offer for sale of up to 40.06 million shares by its existing shareholders and promoters. The OFS comprises up to 3.71 million shares by Ramesh Juneja, up to 3.51 million shares by Rajeev Juneja, 2.80 million shares by Sheetal Arora, up to 17.41 million by Cairnhill CIPEF Ltd2, up to 2.62 million shares by Cairnhill CGPE Ltd, up to 9.96 million shares by Beige Ltd, and up to 50,000 shares by Link Investment Trust.

Mankind Pharma, which manufactures the popular condom brand Manforce Condoms, pregnancy test kit Prega News, and emergency contraceptive brand Unwanted-72, is supported by private equity firm Chrys Capital and Capital International. Ramesh Juneja founded the company, which became a fully integrated pharmaceutical company in 1995. It develops, manufactures, and markets a diverse range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as a range of consumer healthcare products.