Condom maker Mankind Pharma files papers for an IPO

• Mankind Pharma files for IPO which will comprise an offer for sale (OFS) of over 4 crore equity shares by the company's promoters and existing shareholders.
• Some of its brands across categories include Manforce condoms Prega News and Unwanted-72.
• It also manufactures antacid powders, vitamin and mineral supplements and anti-acne preparations categories.
• Its profitability has grown 37% in the last three financial years.

Condom manufacturer Mankind Pharma has filed its draft red herring prospectus (DRHP) papers with market regulator SEBI to raise funds through initial public offering (IPO) route.

The IPO will comprise an offer for sale (OFS) of over 4 crore equity shares by the company's promoters and existing shareholders. Therefore, the company will not receive any proceeds from the offer and all the money will be received by the selling shareholders.

The company manufactures a diverse range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products.

Its wide range of offerings include condoms, pregnancy detection, emergency contraceptives, antacid powders, vitamin and mineral supplements and anti-acne preparations categories.

It has 23 manufacturing facilities across Himachal Pradesh, Sikkim, Rajasthan, Andhra Pradesh, Maharashtra and Uttarakhand.

The company is also looking to acquire brands and diversify its therapeutic portfolio.

“We aim to deepen our presence in our existing markets and facilitate our entry into new markets. We intend to strategically acquire brands and companies across key markets as well as explore in-licensing and codevelopment opportunities with other companies to diversify our therapeutic portfolio,” the company said in its DRHP.

Its products are sold in 20 countries, including the US, Latin America, Southeast Asia, Africa, the Middle East and the Commonwealth of Independent States (CIS).

Mankind Pharma’s profitability has grown 37% in the last three financial years.


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