[ad_1]
Mankind Pharma IPO: Healthcare sector Mankind Pharma, which manufactures Manforce condoms and pregnancy test kit Prega News, has fixed the price band of its IPO. Mankind Pharma has fixed a price band of Rs 1026 to Rs 1080 per share. The company is going to raise Rs 4326.36 crore through IPO. The IPO of Mankind Pharma will open on 25 April and investors will be able to apply in the IPO till 27 April.
Know how much is GMP
Mankind Pharma’s share is trading at a premium rate of Rs 80 in the gray market. That is, according to the upper band price of the IPO price, the stock is trading at a premium rate of 7.50 per cent in the gray market. This is the biggest IPO in the healthcare sector after Gland Pharma’s IPO. In the coming days, there is a possibility of further increase in the premium rate in the gray market.
when will the listing happen
The listing of Mankind Pharma’s IPO will happen on May 9, 2023, on both the stock exchanges BSE and National Stock Exchange. Retail investors will be able to apply for a lot of at least 13 shares, for which they will have to pay Rs 14,040. A 50 percent quota reserve has been kept in IPOs for institutional investors. While 35 percent quota is reserved for retail investors and 15 percent for non-institutional investors. The face value of the share has been fixed at Rs.
Through the IPO, 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. The existing shareholders of the company are also selling their stake. The amount raised under the offer for sale will not go to the company, but will go to the investors selling the shares. Mankind Pharma has appointed Kotak Investment Banking, JP Morgan, Citi, Jefferies, Axis Capital, IIFL Securities as investment bankers.
read this also
[ad_2]
Source link