Mankind Pharma sets price range for IPO, valuing company at up to Rs 43,264 crore

Mankind Pharma, a subsidiary of private equity firm ChrysCapital and creator of the best-selling condom brand Manforce Condoms, has set a price range for its initial public offering of Rs 1,026-1,080 per share, valuing the company at up to Rs 43,264 crore.

The Delhi-based company previously announced that the subscription period for its IPO would begin on April 25 and end on April 27. On April 24, the anchor bidding will begin. The stock will be launched on markets on May 9 and equity shares will be credited on May 8.

The company wants to raise a maximum of Rs 4,326.36 crore at the upper end of the price range.

Mankind Pharma IPO: Everything You Need To Know

Economic News Today: The first public offering comprises the promoters and existing shareholders making a pure offer to sell up to 40.06 million shares. The OFS consists of approximately 17.41 million shares from Cairnhill CIPEF Ltd, 2.62 million shares from Cairnhill CGPE Ltd, 2.80 million shares from Sheetal Arora, 3.71 million shares from Ramesh Juneja, 3.51 million shares from Rajeev Juneja, 9.96 million shares from Beige Ltd, and 50,000 shares from Link Investment Trust.

Capital International and private equity fund Chrys Capital back Mankind Pharma, which produces the well-known condom brand Manforce Condoms, the pregnancy test kit Prega News and the emergency contraceptive brand Unwanted-72. The business was started by Ramesh Juneja, and in 1995 it became a fully integrated pharmaceutical corporation.

It creates, produces, and sells a wide variety of pharmaceutical formulations for both acute and chronic therapeutic conditions, as well as a variety of consumer healthcare goods. With 97.60% of its total revenue coming from activities in India in the fiscal year 2022, Mankind Pharma has a significant concentration on the domestic market. In the pharmaceutical industry, the company has created 36 brands, and it has one of the biggest networks of medical representatives in the Indian pharmaceutical sector.

Along with the well-known brands Manforce Condoms, Prega News, and Unwanted-72, Mankind Pharma has also established several consumer healthcare brands in areas like antacid powders (Gas-O-Fast), vitamin and mineral supplements (Health OK brand), and anti-acne products (AcneStar brand), among others.

According to recent business news, the lead managers for the IPO are Kotak Mahindra Capital, Jefferies, IIFL Capital, Axis Capital, and JP Morgan. The law firms participating in the transaction are Shardul Amarchand Mangaldas, Cyril Amarchand Mangaldas, AZB & Partners, and Sidley Austin.

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