Shares of Mankind Pharma will be listed at the bourses today. The company has fixed the IPO price at ₹1,080, at the upper end of the price band ₹1,024-1,080.

The ₹4,326-crore initial share sale of Mankind Pharma was subscribed 15.32 times on the final day of bidding last Thursday.

The IPO was entirely an offer for sale by promoters and existing shareholders of the company, who sold about 4 crore shares with a face value of ₹1 each. 

Selling shareholders

Promoters, Ramesh Juneja will sell 37.05 lakh shares, Rajeev Juneja 35.05 lakh shares, and Sheetal Arora will offload 28.04 lakh shares. The offer also includes selling by investor shareholders: 1.74 crore shares by Cairnhill CIPEF Ltd; 26.23 lakh shares by Cairnhill CGPE Ltd; 99.64 lakh shares by Beige Ltd; and 50,000 shares by Link Investment Trust.

Anchor investors

As part of the IPO exercise, Mankind had raised ₹1,297.90 crore from anchor investors by deciding to allot 1.20 crore shares at ₹1,080 a share. Among them included Canada Pension Plan Investment Board (4.82 lakh shares), Government of Singapore (4.09 lakh shares), Goldman Sachs (4.82 lakh shares), ICICI Prudential Pharma Healthcare and Diagnostics (4.82 lakh shares), National Pension Service by Blackrock, Ashoka India Opportunities, Government Pension Fund Global, DSP Healthcare Fund, and Nomura Funds - Ireland Public Ltd (3.89 lakh shares each). Overall 77 anchor investors were allotted among them and 42 for domestic MF schemes.

Mankind Pharma Ltd (MPL) is the fourth-largest pharmaceutical company in India by domestic sales and the third-largest by sales volume. With 97 per cent of its revenue from India, MPL sells pharmaceutical formulations and consumer healthcare goods, and operates 25 manufacturing sites and a specialised R&D centre with four divisions.

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