Mankind Pharma sets price band at Rs 1026-1080 per share for IPO

19 Apr 2023 , 09:40 AM

ChrysCapital-backed Mankind Pharma has set the issue price band for its initial public offering (IPO) at Rs 1,026-1,080 per share, valuing the company at Rs 43,264 crore at the upper end of the band.

The company will be opening for subscription on April 25 and will conclude on April 27. The anchor book will open on April 24. The shares of the company will get credited on May 8 and the stock will be listed on exchanges on May 9.

The issue is a pure offer for sale of upto 40.06 million shares by its existing shareholders and promoters. The OFS comprises about 3.71 million shares by Ramesh Juneja, 3.51 million shares by Rajeev Juneja, 2.80 million shares by Sheetal Arora, 17.41 million by Cairnhill CIPEF Ltd, 2.62 million shares by Cairnhill CGPE Ltd, 9.96 million shares by Beige Ltd, and 50,000 shares by Link Investment Trust.

The company plans to raise Rs 4,326.36 crore at the upper end of the price band.

Mankind Pharma is the manufacturer of popular condom brand Manforce Condoms, pregnancy test kit Prega News, and emergency contraceptive brand Unwanted-72. The company is supported by Chrys Capital and Capital International.

Kotak Mahindra Capital, Jefferies, IIFL Capital, Axis Capital, and JP Morgan are the lead managers to the IPO. The shares of the company will list on BSE and NSE.

Mankind Pharma IPO important details

Open date	April 21
Close date	April 25
Lot size	13
IPO size (Rs crore)	Rs 4,326.36 Cr
IPO price range (Rs)	Rs 1026-1080 per share
Minimum investment	Rs 14,040
Basis of allotment date	April 28
Refunds date	May 2
Credit to demat account date	May 3
Listing date	May 4