Mankind Pharma debuts at 20% premium on Dalal Street

9 May 2023 , 10:00 AM

Shares of Mankind Pharma hits bourses and listed at 20.37% on BSE and NSE at Rs 1300 over the issue price of Rs 1080.

The issue was available for subscription from May 25-27, with QIBs applying for 49.16 times the allotted quota of shares. The portion set aside for high networth individuals (HNIs) was subscribed 3.8 times and the retail investor part was booked 92%.

The Rs 4326 crore IPO of Mankind Pharma was completely an offer for sale (OFS) and one of the largest IPO so far by a domestic drug maker since Gland Pharma came up with its Rs 6,480 crore public issue.

The company has a pan-India marketing presence and operates 25 manufacturing facilities across the country. As of December 2022, the company had a team of over 600 scientists and a dedicated in-house R&D centre with four units located at IMT Manesar, Gurugram and Thane.