Mankind Pharma, one of India’s leading pharmaceutical companies, has announced that its initial public offering (IPO) is set to open on April 25th. The company, which was founded in 1995 and is headquartered in New Delhi, is expected to raise around Rs 5,000 crore ($670 million) through the IPO.
The IPO will consist of a fresh issue of shares worth Rs 1,250 crore and an offer for sale (OFS) of up to 1.94 crore shares by the company’s existing shareholders. The price band for the IPO has been set at Rs 1,000 to Rs 1,010 per share. The IPO will close on April 27th.
Mankind Pharma is one of the fastest-growing pharmaceutical companies in India, with a focus on developing affordable and high-quality medicines for a wide range of health conditions. The company has a strong presence in the domestic market, with a portfolio of more than 1,500 products in areas such as antibiotics, anti-infectives, gastroenterology, cardiology, and diabetes, among others.
The company has also been expanding its global footprint in recent years, with a presence in more than 45 countries worldwide. In 2020, Mankind Pharma acquired Australia-based pharmaceutical company, IDP Pharma, in a bid to expand its presence in the Asia-Pacific region.
The IPO is expected to provide Mankind Pharma with the necessary capital to fund its growth plans and pursue strategic acquisitions in the future. The company has identified several areas for growth, including expanding its product portfolio, increasing its manufacturing capacity, and expanding its international operations.
Commenting on the IPO, Rajeev Juneja, Mankind Pharma’s founder and CEO, said: “We are excited to bring Mankind Pharma to the public markets through this IPO. The funds raised through the IPO will enable us to accelerate our growth plans and pursue strategic acquisitions that will help us expand our presence in key markets around the world.”
The IPO has generated significant interest among investors, with many analysts predicting that it will be oversubscribed. The strong demand for the IPO is a testament to the company’s strong growth potential and its reputation for developing high-quality, affordable medicines.
The IPO comes at a time when the Indian pharmaceutical industry is experiencing significant growth, driven by factors such as increasing healthcare spending, rising prevalence of chronic diseases, and a growing demand for generic medicines. According to a report by India Brand Equity Foundation (IBEF), the Indian pharmaceutical industry is expected to grow to $130 billion by 2030, up from $41 billion in 2020.
The IPO also comes at a time when the Indian stock market is experiencing a strong rally, with many investors looking to capitalize on the current bullish sentiment. The benchmark Nifty 50 index has gained more than 10% so far this year, and many analysts predict that the rally is set to continue in the coming months. This bodes well for the company’s IPO, as it should be able to generate strong interest from investors. Additionally, the company has been profitable for the past three years and is looking to use the proceeds from the IPO to fund further expansion. With strong fundamentals, a favorable market environment and an experienced management team, this new IPO looks promising.
In conclusion, the IPO of Mankind Pharma is set to open on April 25th, with the company expected to raise around Rs 5,000 crore. The strong demand for the IPO is a testament to the company’s strong growth potential and its reputation for developing high-quality, affordable medicines. The IPO is expected to provide Mankind Pharma with the necessary capital to fund its growth plans and pursue strategic acquisitions in the future. With the Indian pharmaceutical industry experiencing significant growth, the IPO is well-timed to capitalize on this trend and generate strong returns for investors.
