The drug maker Mankind Pharma is all set for its initial public offering (IPO). It will be open for subscription on April 25. According to the red herring prospectus (RHP), the three-day IPO will conclude on April 27, and the bidding for anchor investors will open on April 24.

The existing shareholders and promoters have been offering 40,058,844 shares in the IPO. Promoters Ramesh Juneja, Rajeev Juneja, and Sheetal Arora are selling shares in the OFS. The OFS will also include Cairnhill CIPEF, Cairnhill CGPE, Beige Limited, and Link Investment Trust.

Because the IPO is entirely an OFS, the firm will get no net profits from the offering, and the whole net proceeds will be distributed to the selling shareholders. Mankind Pharma develops, manufactures, and markets a wide range of pharmaceutical formulations in acute and chronic therapeutic areas, as well as a number of consumer healthcare items.

The company had a workforce of over 600 scientists and a dedicated in-house R&D department with four facilities located at IMT Manesar, Gurugram (Haryana), and Thane (Maharashtra) as of December 2022. The issue's book-running lead managers are Kotak Mahindra Capital Company, Axis Capital, IIFL Securities, Jefferies India, and JP Morgan India. The equity shares are being proposed for listing on the BSE and NSE.

Drug Maker Mankind Pharma To Open April 25

The company had a workforce of over 600 scientists and a dedicated in-house R&D department with four facilities located at IMT Manesar, Gurugram (Haryana), and Thane (Maharashtra) as of December 2022