Mankind Pharma IPO: Allotment Details and IPO Date

Mankind Pharma IPO: Mankind Pharma recently concluded its subscription period for its initial public offering (IPO) on a high note, as it received an overwhelming response from investors, with the subscription reaching over 15 times the allotted shares. The share allotment details will be announced on May 3, as reported by Moneycontrol.

During the IPO period from April 25-27, qualified institutional investors exhibited great interest, bidding 49.16 times the allotted quota. Similarly, high net-worth individuals bought shares 3.8 times the reserved portion. However, the response from retail investors remained relatively low, with only 92% of the reserved quota subscribed.

As a result, the IPO received bids for nearly 42.95 crore equity shares, marking a remarkable subscription of 15.32 times. The anchor round of the IPO also witnessed significant subscription, with the participation of 16 MF schemes. Furthermore, foreign and prominent institutions such as CPPIB, Abu Dhabi Investment Authority, Goldman Sachs, Fidelity, Blackrock, GIS, and Nomura demonstrated their confidence in the IPO.

It’s important to note that the Rs 4,326-crore public issue was entirely an offer for sale by promoters and investors. As a result, all the proceeds will go to the selling shareholders, and the company will not receive any funds from this offer.

The price band for the IPO offer was set between Rs 1,026 and Rs 1,080 per share. However, the final offer price is expected to be at the upper end of the price band.

For investors who have subscribed to the Mankind Pharma IPO, checking their share allotment status is a simple process. They can visit either the BSE website or the portal of the IPO registrar and follow these steps:

How to check allotment on the IPO registrar website?

Select “Mankind Pharma Limited” as the IPO.
Enter either your “Application number,” “Demat account number,” or “PAN number.”
Finally, enter the “Captcha” and click on the “Submit” button.

How to check allotment on the BSE portal?

Select the appropriate “Issue Type” and “Issue Name.”
Enter either your “Application number” or “PAN number.”
Tick the box to confirm “I’m not a robot” and click on the “Search” button.

In case investors do not receive the allotment of shares, they will receive a refund directly credited to their bank accounts by May 4. On the other hand, for those investors who are allotted equity shares, the shares will be transferred to their demat accounts by May 5.

Excitingly, Mankind Pharma is set to make its debut on the BSE and NSE on May 8. Interestingly, in the grey market (unlisted market), the stock is trading at a premium of 3 to 5 percent, surpassing the expected final issue price of Rs 1,080 per share.

About Mankind Pharma

Mankind Pharma is a prominent player in the pharmaceutical industry, with a strong focus on the domestic market, which contributes approximately 98% to its total revenue in FY22. The company boasts 25 manufacturing facilities across India and has established a significant distribution and marketing presence.

With popular patented brands like Manforce, Prega news, Gas O Fast, Nurokind, and Telmikind, Mankind Pharma has gained recognition in the market. The company is also actively involved in various acute and chronic therapeutic areas, constantly striving for progress and innovation.

At the higher end of the price band, Mankind Pharma currently has a market capitalization of Rs 43,264 crore.

In terms of financial performance, Mankind Pharma reported consolidated profit of Rs 996.4 crore for the nine-month period ended December FY23. This represents a 20 percent decline compared to the corresponding period in the previous fiscal year, primarily due to weak operating performance.

However, the company witnessed a positive trajectory in terms of consolidated revenue, which increased by 10.6 percent year-on-year to reach Rs 6,697 crore during the same period. It is worth noting that there was a nearly 13 percent year-on-year decline in EBITDA (earnings before interest, tax, depreciation, and amortization), which stood at Rs 1,484 crore, with the margin falling by 598 basis points compared to the corresponding period in the previous fiscal year.

Despite the challenges faced in terms of operating performance, Mankind Pharma remains a significant player in the pharmaceutical industry. With its extensive manufacturing facilities and a strong distribution and marketing presence, the company is well-positioned to capitalize on the opportunities within the domestic market, which continues to be its primary revenue driver.

Now let’s move on to some frequently asked questions about the Mankind Pharma IPO:

FAQs

1. What was the subscription rate for the Mankind Pharma IPO?

The Mankind Pharma IPO was subscribed over 15 times, indicating a strong demand from investors.

2. When will the share allotment details be announced?

The share allotment details for the Mankind Pharma IPO will be announced on May 3, as reported by Moneycontrol.

3. How can investors check their share allotment status?

Investors can check their share allotment status by visiting either the BSE website or the portal of the IPO registrar. They need to enter their application number, demat account number, or PAN number, along with a captcha verification, to access the information.

4. What happens if investors do not receive allotment of shares?

Investors who do not receive the allotment of shares will receive a refund, which will be directly credited to their bank accounts by May 4.

5. When will the shares be transferred to demat accounts for investors who are allotted equity shares?

For investors who are allotted equity shares, the shares will be transferred to their demat accounts by May 5.

6. What is the grey market premium for Mankind Pharma shares?

As of now, in the grey market (unlisted market), Mankind Pharma shares are trading at a premium of 3 to 5 percent, surpassing the expected final issue price of Rs 1,080 per share.

With its strong presence in the pharmaceutical industry, Mankind Pharma is expected to make a successful debut on the BSE and NSE on May 8. Investors are eagerly awaiting the listing to see how the company performs in the market and to potentially reap the benefits of their investment.