Mankind Pharma Limited has announced its IPO from April 25, 2024, to April 27, 2024, while the price band will be Rs 1026 to Rs 1080 per share. One lot will consist of 13 shares and a retail investor can bid for a maximum of 14 lots.
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About Mankind Pharma
Mankind Pharma Limited (MPL) is the fourth-largest pharmaceutical company in India by local sales and the third-largest by sales volume. More than 90% of its sales come from India. The company believes in providing the product at a reasonable price. The three most important product of MPL is Manforce Condoms in the male category with up to 30% market share, Prega News is pregnancy test kit with a market share of 80% and Unwanted-72 comes under the emergency contraceptive category with a market share upto 62%. MPL manufactures many other products such as antacid powder, vitamin and mineral supplements, anti-acne preparation categories, etc.
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All About Initial Public Offerings (IPO)
Mankind Pharma Ltd. announced its IPO on April 25, 2024 (Tuesday) and will remain open for bidding till April 27, 2024 (Thursday). The company has a fixed price band of its public offer at Rs 1,026 to Rs 1,080 per share. According to the researcher, Mankind Pharma IPO Grey Market Price is Rs 90 premium.
All retail investors have to bid in a lot and each lot will consist of 13 shares and a maximum of 13 lots can purchase by an investor. And minimum amount required for bidding is Rs 14,040 ( Rs 1,080*13)
The allocation date for shares will be most probably on May 3, 2024. The public issue is most probably to get
registered in NSE and BSE on May 8, 2024. The IPO is of amount Rs 4,326.36 crore with an offer for sale of 40,058,844 equity shares.
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Major Anchor Investors
Mankind Pharma Ltd. deployed Rs 1,297.9 crore from anchor investors a day before the Initial Public Offerings (IPO). Anchor Investors are institutional investors who purchase the equity shares of the company at a fixed price before the IPO or public issue date. The company has finalized the allocation of its 1.2 crore equity shares to anchor investors at the higher band price which is Rs 1,080 per share. A total of 77 investors have received shares via anchor book. Some of the major anchor investors are Morgan Stanley,
BlackRock Global Funds, HDFC Trustee, SBI Mutual Fund, Motilal Oswal Mutual Fund, Tata Mutual Fund, HDFC Life Insurance, SBI Life Insurance Goldman Sachs, Monetary Authority of Singapore, Government of Singapore, Canada Pension Plan and many more.
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Financial Statements of Mankind Pharma FY20, FY21, and FY22
Mankind Pharma till now has shown continuous growth in the last three years in revenue as well as PAT. The company had also increased its debt burden.
Revenue in FY20 was Rs 5,865 crore, in FY21 it was Rs 6,214 crore and in FY22 it was Rs 8,423 crore with an increase of almost 15% for the last two years.
Debt in FY20 was Rs 127 crore while increased to Rs 235 crore in FY21 and again increased to Rs 868 crore showing an increment of almost 162% for the last two years.
Profit After Tax (PAT) has also shown a continuous increment of 17.9% for the last two years and Return on Capital Employed (ROCE) after an average of three years was 30.6%.
