Mankind Pharma expects the listing of its equity shares to enhance its visibility and brand, while also providing liquidity to its existing shareholders.

Here are 10 key points of Mankind IPO:

1. The IPO will open on April 25 and will be available for subscribing for a 3-day period. Bidding will close on April 27. Ahead of the IPO, anchor investors’ bidding will be held on April 24.

2. The IPO is purely OFS where shareholders will offload a total of 40,058,844 equity shares. Mankind will not receive any proceeds from the IPO as the funds will go to selling shareholders.

3. Among selling shareholders, chairman Ramesh Juneja will offload 3,705,443 equity shares. While Rajeev Juneja, Vice Chairman and Managing Director of Mankind will sell 3,505,149 equity shares. Sheetal Arora who is another promoter will sell 2,804,119 equity shares. The remaining shares in the OFS will be sold by investors like Cairnhill CIPEF, Cairnhill CGPE, Beige Limited, and Link Investment Trust.

4. The price band for the IPO is fixed at the lower end of ₹1,026 per share and the upper end of ₹1,080 per share.

5. Of the offered shares for sale, 50% is reserved for qualified institutional buyers (QIBs). Meanwhile, 15% of the portion will be kept for non-institutional investors (NII) and the rest of 35% will be allocated to retail individual investors (RIIs).

6. Companies like Kotak Mahindra Capital Company, Axis Capital, IIFL Securities, Jefferies India, and JP Morgan India are acting as the book-running lead managers (BRLM) of the IPO. KFin Technologies is the registrar of the issue.

7. Post the listing, Mankind will compete against pharmaceutical giants such as Sun Pharma, Cipla, Zydus Lifesciences, Torrent Pharma, Alkem Laboratories, Eris Lifesciences, GlaxoSmithKline Pharmaceuticals, and Dabur India among others.

8. Mankind intends to continue to increase its Covered Market presence and strengthen its position in the IPM. Further, the company also focuses on pursuing opportunities in therapeutic areas to expand its presence. Also, the company is committed to increasing its penetration in metro and class I cities like Delhi NCR, Bengaluru, Mumbai, Hyderabad, Cochin, Chennai, and Kolkata. The company already has a substantial share of Domestic Sales in Class II-IV cities and rural markets compared to the IPM.

9. As part of its strategies to grow its healthcare business, Mankind is planning to launch a new preconception and pre-natal care range of products as brand extensions under its Prega News brand. Last year, in November, the company completed a cash acquisition for a majority stake in Upakarma Ayurveda which is expected to provide Mankind with a direct-to-customer channel in the Ayurvedic medicine category.

10. As of December 31, 2022, the company’s net profit stood at ₹1,015.98 crore, and revenue from operations was at ₹6,696.78 crore. Mankind has shown a consistent upside in financial results between FY22 to FY20. Total income climbed to ₹7,977.58 crore in FY22 versus ₹6,385.38 crore and ₹5,975.65 crore in FY21 and FY20. PAT has jumped to ₹1,452.96 crore in FY22 compared to ₹1,293.03 crore in FY21 and ₹1,056.15 crore in FY20.

Mankind is India’s fourth-largest pharmaceutical company in terms of domestic sales and third-largest in terms of sales volumes for MAT as of December 31, 2022. The company 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.