Mankind Pharma IPO: Shares listed at 1,300 with over 20% premium
Mankind Pharma's stock began the trade at Rs 1,300, up 20.37% on the BSE. It further zoomed 24.53% to Rs 1,366.
Shares of made a remarkable debut on the stock exchanges on Tuesday, listing with a premium of over 20% against the issue price of Rs 1,080.
The stock began the trade at Rs 1,300, up 20.37% on the BSE. It further zoomed 24.53% to Rs 1,366.
At the NSE, shares of the company made its debut at Rs 1,300.
The company commanded a market valuation of Rs 54,816.52 crore.
The initial share sale of Mankind Pharma received 15.32 times subscription last month.
The company's IPO was entirely an Offer for Sale (OFS) of 4,00,58,844 equity shares by promoters and other existing shareholders.
Price range for the offer was at Rs 1,026-1,080 a share.
Mankind Pharma is engaged in developing, manufacturing, and marketing a diverse range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products.
It has established several differentiated brands in condoms, pregnancy detection, emergency contraceptives, antacid powders, vitamin and mineral supplements, and anti-acne preparation categories.
It 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 (Haryana) and Thane (Maharashtra).
Edited by Megha Reddy