Mankind Pharma to List on NSE, BSE Today: Mankind Pharma shares start their secondary market journey at Rs 1,300 apiece on BSE and NSE each — a premium of 20.4 per cent over the upper end of its issue price band. Mankind Pharma’s initial public offering (IPO) was up for public subscription during April 25-27 and got a good response with an overall subscription at 15.32 times. The company’s listing is scheduled for tomorrow, Tuesday, May 09, 2023.

Mankind Pharma IPO: Basic Details

Mankind Pharma is 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.

It has established several differentiated brands in condoms, pregnancy detection, emergency contraceptives, antacid powders, vitamin and mineral supplements, and anti-acne preparation categories.

The IPO was entirely an offer for sale (OFS) of 40.06 million equity shares by promoters and other existing shareholders. Its price band was fixed at Rs 1,026-1,080 per share. In the Rs 4,326-crore IPO, a bidder bid for a minimum of one lot and maximum of 13 lots. A lot had Mankind Pharma’s 13 shares.

Subscription Status

Mankind Pharma is the biggest IPO of the current financial year. The company has raised Rs 4326.35 crore through this IPO. This IPO got tremendous response from the investors. The IPO was subscribed more than 15 times. Out of this, the quota prescribed for Qualified Institutions was maximum subscribed 49.16 times, Non- Institutional Buyers’ quota 3.80 times and Retail Investors’ quota 0.92 times.

Mankind Pharma Shares: What Should Investors Do Post Listing on NSE, BSE?

Santosh Meena, Head of Research, Swastika Investmart Ltd., said: “Mankind Pharma, the biggest IPO of 2023 made its debut in the market at a listing price of 1300. The company’s issue price at the upper band was Rs. 1080,  hence it got listed with a profit of around Rs.220  (20%). Mankind Pharma is a well-known and established pharmaceutical company that offers pharmaceuticals as well as several consumer healthcare products. The company has strong fundamentals and it is already attracting outperforming ratings from global brokerage Macuarie. Our recommendation for the IPO was to subscribe, and we maintain a bullish view of the stock, advising investors to hold it for the long term.  However, investors who applied for listing gains may either choose to exit or hold it with a stop loss at the issue price.”

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