​Mankind Pharma IPO opens – Here are 10 things you need to know before you subscribe​

Apr 25, 2023

By: Bhakti Makwana

Credit: Mankind Pharma

​IPO dates​

​Condom manufacturer Mankind Pharma is all set to open its initial public offering (IPO) on April 25 and close it on April 27. This will be the seventh company to go public in 2023 amid an uncertain macro environment. The price band for the issue has been set at ₹415-436 per share. ​

Credit: Mankind Pharma

​Size of the IPO​

​The ₹4,326 crore IPO will comprise an offer for sale (OFS) of over 4 crore equity shares by the promoters and existing shareholders of the company, which sells Manforce condoms and Prega News pregnancy detection kits.​

Credit: BCCL

What does the company do?

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

Credit: Mankind Pharma

​More about the company​

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

Credit: Mankind Pharma

What ICICI Securities says

​“We assign SUBSCRIBE rating on the back of opportunities from its newer acquired products and its plan to backward integrate in its power brands, structural preference for domestic branded formulations among broader healthcare themes,” said a report by ICICI Securities. ​

Credit: ICICI Securities

​Aditya Birla Money’s view ​

​“We believe that MPL’s market leadership and brand recognition coupled with Management’s bet on the recent acquisition of Panacea Biotech’s formulations may provide a huge growth opportunity for the company. We have a SUBSCRIBE recommendation to this issue,” said a report by Aditya Birla Money. ​

Credit: Aditya Birla Money

​Key risks to the company​

​The company says that after India, its major markets are the US, Bangladesh, Sri Lanka and Nepal. Any developments in the pharma industry in these regions could impact on its business operations. Besides, it is exposed to government price controls which could negatively affect its operations. ​

Credit: Canva

Mankind Pharma’s profitability

​Mankind Pharma’s profitability has grown over 37 percent in the last three financial years. ​

Credit: Business Insider India

​Grey market demand ​

​The shares of the company are currently commanding a grey market premium (GMP) of ₹90 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. ​

Credit: Canva

Allotment and listing date

​The company’s shares will be allotted to investors on May 3 and will be listed on the stock exchanges on May 8. ​

Credit: Canva

​All about MOS Utility whose shares are up 30 percent from issue price a day after debut