Mankind Pharma IPO to open on Apr 25
Mumbai/IBNS: Mankind Pharma Ltd will launch its initial public offering (IPO) of 40,058,844 equity shares on Tuesday, April 25, 2023, the company said on Wednesday.
The IPO will close on Thursday, April 27, 2023.
The anchor investor bidding date is on April 24, 2023, a day before the IPO date.
The price band of the offer has been fixed from Rs 1,026 per equity share to Rs 1,080 per equity share.
Bids can be made for a minimum of 13 equity shares and in multiples of 13 equity shares thereafter.
The company’s IPO is fully an offer for sale of 40,058,844 equity shares by its promoters and other shareholders.
At the upper band of the price range, the Delhi-based drug maker plans to raise around Rs 4,326.36 crore.
Those selling shares are promoters Ramesh Juneja, Rajeev Juneja and Sheetal Arora.
Further, investors Cairnhill CIPEF Ltd, Cairnhill CGPE Ltd, Beige Ltd and Link Investment Trust will also participate in the OFS.
Since the IPO is completely an OFS, any net proceeds from the issue and the entire net proceeds will go to the selling shareholders.
The equity shares offered through the red herring prospectus (RHP) are proposed to be listed on both BSE and NSE.
Kotak Mahindra Capital Company Ltd, Axis Capital Limited, IIFL Securities Limited, Jefferies India Private Limited, and J.P. Morgan India Private Limited the book-running lead managers to the issue.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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