The market now has the next big IPO in the drugs industry. Mankind Pharma, a top pharmaceutical business, is getting ready for its first public offering (IPO) on April 25. Ramesh Juneja and Rajeev Juneja, two of the IPO’s promoters, are selling a portion of their holdings in the entire offer for sale (OFS) offering. In the IPO, the planned equity shares will be listed on both the BSE and the NSE.
Mankind Pharma hopes that listing its equity shares will increase its exposure and brand, as well as give its current shareholders more money.
Here are ten important things about Mankind’s IPO:
1. The IPO will start on April 25 and people will be able to sign up for it for three days. The last day to bid is April 27. Anchor buyers will be able to bid on April 24 before the IPO.
2. The IPO is only an OFS, and owners will sell a total of 40,058,844 shares of equity. Mankind won’t get any money from the IPO because the money will go to the owners who are selling their shares.
3. Chairman Ramesh Juneja will sell 3,705,443 equity shares as one of the owners who are selling. While Mankind’s Vice Chairman and Managing Director, Rajeev Juneja, will sell 3,505,149 equity shares. Another shareholder, Sheetal Arora, will sell 2,804,119 equity shares. Investors like Cairnhill CIPEF, Cairnhill CGPE, Beige Limited, and Link Investment Trust will sell the leftover OFS shares.
4. The price range for the IPO is between 1,026 and 1,080 per share.
5. Only qualified institutional buyers (QIBs) can buy 50% of the shares that are for sale. The remaining 35% will go to retail individual investors (RIIs), with 15% of the allocation reserved for non-institutional investors (NII).
6. The IPO’s book-running lead managers (BRLM) are companies like Kotak Mahindra Capital Company, Axis Capital, IIFL Securities, Jefferies India, and JP Morgan India. KFin Technologies is in charge of the registration of the problem.
7. After the listing, Mankind will have to fight with big pharmaceutical companies like Sun Pharma, Cipla, Zydus Lifesciences, Torrent Pharma, Alkem Laboratories, Eris Lifesciences, GlaxoSmithKline Pharmaceuticals, and Dabur India, among others.
8. Mankind plans to keep growing its presence in the Covered Market and strengthening its place in the IPM. The company also puts a lot of effort into looking for chances in therapeutic areas to grow its business. Also, the company wants to expand in metro and class I areas like Delhi NCR, Bengaluru, Mumbai, Hyderabad, Cochin, Chennai, and Kolkata. Comparing the company to the IPM, the company already holds a sizable portion of domestic sales in Class II-IV cities and rural marketplaces.
9. As part of its plans to grow its healthcare business, Mankind is planning to offer a new line of products under its Prega News brand that will help women get ready for pregnancy and care for their unborn babies. In November of last year, the company bought a majority stake in Upakarma Ayurveda for cash. This should give Mankind a direct-to-customer channel in the Ayurvedic medicine area.
10.As of December 31, 2022, the company’s net profit was 1,015.98 crore, and its business brought in 6,696.78 crore in revenue. Between FY22 and FY20, Mankind’s financial results were always on the rise. In FY22, the company made 7,977.58 crore, up from 6,385.38 crore in FY21 and 5,975.65 crore in FY20. PAT has gone up from 1,293.03 crore in FY21 to 1,452.96 crore in FY22. In FY20, PAT was 1,056.15 crore.
As of December 31, 2022, Mankind is India’s fourth-largest pharmaceutical company by domestic sales and third-largest by sales output for MAT. The company develops, makes, and sells a wide range of pharmaceutical formulations for both short-term and long-term use, as well as a number of consumer healthcare goods.