Mankind Pharma will finalise the allocation of shares May 3, 2023.
New Delhi: The initial share-sale of drug maker Mankind Pharma, that opened for public subscription between April 25 and April 27, eceived 15.32 times subscription on the last day of offer.
Mankind Pharma IPO GMP
As per reports, the Mankind Pharma latest GMP suggests a premium of Rs 92, suggesting that the scrip will have a decent debut on its stock market listing.
Mankind Pharma IPO Allotment
Mankind Pharma will finalise the allocation of shares May 3, 2023. Refunds will start to be issued on May 4 if subscribers haven’t already got the allotment. The shares will be credited to the demat account of subscribers on May 5 after it is being allocated.
Read More:– Why GST Sees Highest-Ever Collection In April 2023? Experts Say This
Mankind IPO Stock Market Listing
Post the public subscription, the shares of Mankind Pharma are expected to go live on stock exchanges on May 8, 2023.
Mankind IPO Details
The company’s IPO is entirely an offer for sale (OFS) of 40,058,844 equity shares by promoters and other existing shareholders. Those selling shares in the OFS are promoters Ramesh Juneja, Rajeev Juneja and Sheetal Arora. Besides, Cairnhill CIPEF, Cairnhill CGPE, Beige Limited, and Link Investment Trust will participate in the OFS. Since the IPO is completely an OFS, the company will not receive any net proceeds from the issue and the entire net proceeds will go to the selling shareholders.
Read More:– TCS Vs Infosys Vs Wipro Vs HCL Tech: A Complete Comparison of Employee Strength, Attrition
Kotak Mahindra Capital Company, Axis Capital, IIFL Securities, Jefferies India and JP Morgan India are the book-running lead managers to the issue.
