Mankind Pharma IPO: Check IPO Details, Date, Price | Espresso

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Mankind Pharma Limited IPO to Open on April 25. Check IPO Details Issue Date Price

April 20, 2023
Mankind Pharma Limited IPO to Open on April 25. Check IPO Details Issue Date Price

Mankind Pharma Limited is coming out with a fresh public issue to raise Rs. 4326 crores from the market.

Below are the details of the Mankind Pharma Limited IPO:

  • Issue opens – April 25 (Tuesday)
  • Issue closes – April 27 (Thursday)
  • Issue size – Rs. 4326 crores
  • Price band – Rs. 1026 to 1080 per equity share
  • Bid lot – 13 shares and in multiples thereof.

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And here are some details of the company and further details on the Mankind Pharma Limited.

Company details:

  • Mankind Pharma Limited are India’s fourth largest pharmaceutical company in terms of Domestic Sales and third largest in terms of sales volume for MAT December 2022 (Source: IQVIA Dataset, IQVIA TSA MAT December 2022 Dataset for India (For FY20-22)). They are engaged in developing, manufacturing and marketing a diverse range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products. They are focused on the domestic market, as a result of which their revenue from operations in India contributed to 97.60% of their total revenue from operations for the Financial Year 2022, which was one of the highest among peers identified by IQVIA.
  • They have primarily grown organically and are the youngest company among the five largest pharmaceutical companies in India, in terms of Domestic Sales in 2022 (Source: IQVIA Dataset, Annual filings / company data). They operate at the intersection of the Indian pharmaceutical formulations and consumer healthcare sectors with the aim of providing quality products at affordable prices, and have an established track record of building and scaling brands in-house.
  • They have created 36 brands in their pharmaceutical business They have one of the largest distribution networks of medical representatives in the Indian pharmaceutical market (“IPM”) and over 80% of doctors in India prescribed their formulations for MAT December 2022 (Source: IQVIA Dataset, annual filings by respective companies with stock exchanges, IQVIA Medical Audit MAT Dec 2022 for MAT Mar'20-22 and MAT Dec’22).
  • They are present in several acute and chronic therapeutic areas in India, including anti-infectives, cardiovascular, gastrointestinal, anti-diabetic, neuro/CNS, vitamins/minerals/nutrients and respiratory. They entered the consumer healthcare industry in 2007 and have since established several differentiated brands in the condoms, pregnancy detection, emergency contraceptives, antacid powders, vitamin and mineral supplements and anti-acne preparations categories.
  • They are the category leaders in (i) the male condom category, where their Manforce brand had Domestic Sales of approximately ?4,616 million (representing a market share of approximately 29.6%), (ii) the pregnancy detection kit category, where their Prega News brand had Domestic Sales of approximately ?1,844 million (representing a market share of approximately 79.7%), and (iii) the emergency contraceptives category, where their Unwanted-72 brand had Domestic Sales of approximately ?1,083 million (representing a market share of approximately 61.7%), for MAT December 2022.

Issue Size:

Rs. 4326 crores

Issue break-up:

  • QIB – 50% of the offer – Rs. 2163.18 crores
  • NIB – 15% of the offer – Rs. 648.95 crores
  • RET – 35% of the offer – Rs. 1514.22 crores

Listing:

BSE and NSE

Registrar:

KFin Technologies Limited

UPI:

All Retail & NII bidders' (bids up to Rs. 5,00,000) applications through brokers are compulsorily in UPI Mode.

Note:

  • Application made using third party UPI or ASBA Bank A/c are liable to be rejected. 
  • The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e. Thursday, April 27, 2023     

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