Condom and pregnancy kit maker Mankind Pharma may bring IPO in April

Mankind Pharma IPO: Healthcare sector company Mankind Pharma, which manufactures Manforce condoms and pregnancy test kit Prega News, is preparing to launch its IPO. Mankind Pharma is preparing to raise Rs 4200 to 4700 crores from the market through IPO. Mankind Pharma’s IPO may come at the end of April 2023.

Through the IPO of Mankind Pharma, the promoters and investors of the company will sell their stake in the offer for sale. Company’s promoter Juneja family and investors are preparing to sell around 4 crore shares through offer for sale. After selling the shares under the offer for sale, the promoter’s stake in the company will come down from 79 per cent to 76.50 per cent. According to the draft paper filed with SEBI, the promoters of the company are Ramesh Juneja, Rajeev Juneja, Sheetal Arora and Ramesh Juneja Family Trust, Rajeev Juneja Family Trust and Sheetal Arora Family Trust. The existing shareholders of the company include Cairnhill CIPEF Limited, Beige Limited and Link Investment Trust. ChrysCapital-backed GIC of Singapore and CPP Investments hold 10 per cent stake in Mankind Pharma.

Mankind Pharma was formed in 1991. In 2022, it has become the fourth largest company in the country in terms of domestic sales. 98 percent of the company generates its revenue in India. In 2021-22, the company’s revenue is Rs 8,000 crore and EBIDTA is Rs 2,200 crore. Apart from India, the major markets of the company include America, Bangladesh, Sri Lanka, Nepal. Mankind Pharma has appointed JP Morgan, Citi, Jefferies, Axis, IIFL and Kotak as investment bankers.

Mankind Pharma operates in the pharmaceuticals formulations and consumer healthcare sectors. The company is expanding its research and development centers as well as venturing into new areas. The company had spent Rs 141.49 crore in 2019-20, Rs 170.78 crore in 2020-21 and Rs 213.44 crore in 2021-22 on research and development. The company’s management believes that in 2022-23, the company will spend 2.5 per cent of its revenue on research and development. The company has around 600 scientists in which 40 are those who have PhD degree. Three units of the company are present in IMT Manesar, Gurugram Haryana.

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