Business NewsNational News
Mankind Pharma submits a draft paper for its IPO to the SEBI
The size of the IPO is estimated to be around Rs 7,500 crore. This will be among the largest ever IPO in the Indian pharma industry.
India’s Mumbai (Maharashtra), September 16 (ANI): Mankind Pharma Ltd., a pharmaceutical firm famous for its brands Manforce Condoms and Prega-News, has submitted the draught red herring prospectus (DRHP) to market regulator Securities and Exchange Board of India (SEBI) for an initial public offering.
The promoters and current owners of the firm will offer for sale 40,058,844 equity shares (about 4 crore) as part of Mankind Pharma’s initial public offering (IPO).
Ramesh Juneja, Rajeev Juneja, Sheetal Arora, Ramesh Juneja Family Trust, Rajeev Juneja Family Trust, and Prem Sheetal Family Trust are some of the company’s promoters.
Up to 1 crore shares from the promoter Juneja family and up to 2 crore shares are included in the offer by Capital International, up to 99.65 lakh by Beige, and up to 50,000 equity shares by Link Investment Trust.
Around Rs 7,500 crore is the expected size of the IPO. This will be among the biggest IPOs in the Indian pharmaceutical sector’s history.
In 1991, Mankind Pharma became a legal entity. Prega-News pregnancy testing kits, Manforce condoms, Gas-O-Fast ayurvedic antacids, and the acne medication AcneStar are some of the company’s well-known brands.
By March 31, 2022, Mankind Pharma will have 23 manufacturing facilities operating throughout India, including those in Himachal Pradesh, Sikkim, Rajasthan, Andhra Pradesh, and Uttarakhand.
