Mankind Pharma IPO: The initial share sale of Mankind Pharma received 15.32 times subscription on the last day of offer on Thursday, helped by a huge interest from institutional buyers.
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.
The IPO received bids for 42,95,12,902 shares against 2,80,41,192 shares on offer, according to NSE data.
The portion for Qualified Institutional Buyers (QIBs) was subscribed 49.16 times, while the non institutional investors category received 3.80 times subscription and Retail Individual Investors (RIIs) 92 per cent.
Mankind Pharma will finalise the allotment by May 3, 2023. If not allotted, the initiation of refunds will take place on May 4. Once allotted, the shares will be credited to your demat on May 5.
The shares will be listed at the NSE and the BSE on May 8, 2023.
The refunds will be credited to bank accounts of unsuccessful investors by May 4 and the equity shares will be transferred to demat accounts by May 5.
The company’s IPO was entirely an Offer for Sale (OFS) of 4,00,58,844 equity shares by promoters and other existing shareholders.
Price range for the offer was at Rs 1,026-1,080 a share.
Since the IPO is completely an OFS, the company will not receive any net proceeds from the issue and the entire net proceeds will go to the selling shareholders.
The equity shares of the company will be listed on both BSE and NSE.
Kotak Mahindra Capital Company, Axis Capital, IIFL Securities, Jefferies India and J P Morgan India were the managers to the offer.
Mankind IPO GMP
On April 29, the shares of Mankind were trading at a premium of Rs 88 in the grey market, over the upper band of Rs 1,080 a share. So, the shares in the grey market were trading at Rs 1,168 apiece. It indicates that the company’s shares are expected to be listed at a premium over its issue price on May 8, 2023. The premium gets fluctuated based on the sentiments in the markets.
Investors in the Mankind Pharma IPO can check their share allotment status either on the BSE website or the portal of the IPO registrar, by following a few easy steps;
- Go to the official website of BSE or Bombay Stock Exchange. The link is (https://www.bseindia.com/investors/appli_check.aspx)
- It will take you to a page called ‘Status of Issue Application’
- After you land on the page, click on the ‘Equity’ option
- From the drop-down menu that will be displayed beside the issue name, select the option ‘Mankind Pharma’
- Write your application number on the page
- After that, write your Permanent Account Number or PAN
- Click on the Captcha that says ‘I am not a Robot’ and click on submit
- After you click on the option, the details of the allotment status of your bid. The status will be visible only after the share allotment gets finalised.
(With PTI inputs)
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