[ad_1]
Mankind Pharma IPO: Mankind Pharma’s IPO has been subscribed 0.87 percent on the second day. Investors can invest in IPO on Thursday, April 27, 2023. The reserve quota for institutional investors in the IPO was subscribed 1.86 times, while the quota for non-institutional investors was subscribed 1.02 times. While retail investors are showing indifference towards the IPO and the reserve quota for them has been filled only 0.25 times. The company has offered 2,81,41,192 shares, out of which applications have been received for 2,45,19,352 shares.
Mankind Pharma manufactures pregnancy test kits under the brand names Manforce Condoms and Prega News. Mankind Pharma has fixed a price band of Rs 1026 to Rs 1080 per share. The company is running with a target of raising Rs 4326.36 crore through IPO. The IPO was open on 25 April and investors will be able to apply in the IPO till 27 April.
Mankind Pharma’s IPO will be listed on both BSE and National Stock Exchange on May 9, 2023. Retail investors can apply for a minimum lot of 13 shares. He has to pay Rs 14040 for 13 shares. 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.
At present the IPO has not been filled even once. But it is believed that most of the investors invest in the IPO only on the last day. Because money gets blocked in their account. Through the IPO, the promoters and investors of the company are selling their stake in the 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.
read this also
[ad_2]
Source link