The Mankind Pharma IPO, or initial public offering, is set to open for subscription on April 25, 2023. The IPO will remain open for bidding until Wednesday, April 27, 2023. With this IPO, the pharmaceutical company aims to raise ₹4,326.36 crore.
Let’s understand more about the Mankind Pharma IPO, its latest GMP, the Mankind Pharma IPO schedule, etc.
About Mankind Pharma
Mankind Pharma Limited is a leading pharmaceutical company. Incorporated in 1991, Mankind Pharma is involved in the development, manufacturing, and marketing of pharmaceutical formulations across acute and chronic therapeutic areas as well as various consumer healthcare products.
Mankind Pharma IPO
The Mankind Pharma IPO is entirely an offer for sale of 40,058,844 equity shares worth ₹4,326.36 crore by the company’s promoters and existing shareholders. Since this IPO is completely an offer for sale, Mankind Pharma Limited will not receive any proceeds from the issue. The net proceeds from the IPO will go to the selling shareholders.
Mankind Pharma IPO: Key Dates
The complete Mankind Pharma IPO schedule is as follows:
| IPO Opening Date | "April 25 | 2023" |
|---|---|---|
| IPO Closing Date | "April 27 | 2023" |
| Basis of Share Allotment | "May 3 | 2023" |
| Initiation of Refunds | "May 4 | 2023" |
| Credit of Shares to Demat Account | "May 5 | 2023" |
| Mankind Pharma Shares Listing Date | "May 8 | 2023" |
Mankind Pharma IPO: Price Band
The price band for the Mankind Pharma Limited IPO has been fixed at ₹1,026-₹1,080 per share. To apply for the Mankind Pharma IPO, bidders will have to apply for a minimum of 13 shares and in multiples thereof.
Mankind Pharma IPO GMP
As per market observers, the shares of Mankind Pharma are trading at a GMP, or grey market premium, of ₹80 today (at 9:24 am. April 20).
Yesterday at end of market hours GMP settled at ₹74 per share on April 19, 2023.
The grey market is an unofficial trading platform for IPO shares and is generally referred to by investors to know about expected demand to the issue and listing price.
Mankind Pharma is expected to list its shares on the leading stock exchanges NSE and BSE on Monday, May 8, 2023.
To watch our exclusive coverage and interviews around IPO, tune into BQ Prime IPO Watch.
Watch: Vice-Chairman and MD Rajeev Juneja Of Mankind Pharma On IPO Prospects
Disclaimer: The above data was recorded at the time of writing and is liable to change. Investors are advised to invest at their own discretion.
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