Mankind Pharma IPO will open for subscription from 25 April 2023. the company aims for an issue size of ₹4,326.36 Cr through this IPO.
About Company
Mankind Pharma is India’s fourth-largest pharmaceutical company in terms of domestic sales and second-largest in terms of sales volume in FY 2022. The company is engaged in developing, manufacturing, and marketing a diverse range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products.
Mankind Pharma is India’s fourth-largest pharmaceutical company in terms of domestic sales and second-largest in terms of sales volume in FY 2022. The company is engaged in developing, manufacturing, and marketing a diverse range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products.
As of 31 March 2022, Mankind Pharma operated 23 manufacturing facilities across India and had 2,181 manufacturing personnel. Its formulations manufacturing facilities have a total installed capacity of 40.77 billion units across a wide range of dosage forms including tablets, capsules, syrups, vials, ampoules, blow fill seals, soft and hard gels, eye drops, creams, contraceptives, other over-the-counter products. The company had a team of over 600 scientists and a dedicated in-house R&D center at IMT Manesar, Haryana.
Basic details about the company
| Full name | Mankind Pharma Limited |
| Sector | Healthcare |
| Industry | Pharmaceuticals & Drungs |
| Company Website | https://www.mankindpharma.com/ |
The Objective of the Issue
- All of the offer proceeds will be received by the selling shareholders in proportion to the offered shares that each selling shareholder sold as part of the offer; the company will not receive any of the offer proceeds.
Major Competitive strengths
- It has over 36 brands, including Manforce (Rx), Moxikind-CV, Amlokind-AT, Unwanted-Kit, Candiforce, Gudcef, Glimestar-M, Prega News, Dydroboon, Codistar, Nurokind-Gold, Nurokind Plus-RF, Nurokind-LC, Asthakind-DX, Cefakind, Monticope, Telmikind-H, Telmikind, Gudcef-CV, and Unwanted-72, among them.
- Mankind Pharma has one of the largest distribution networks of medical representatives in the Indian pharmaceutical market (“IPM”). Over 80% of doctors in India prescribed their formulations and has been ranked number 4th in terms of domestic sales during the Financial Year 2022.
- The company has been awarded The Best of Bharat Awards 2022 by exchange4media in the year 2022, Silver Medal from National Awards for Manufacturing Competitiveness Assessment 2021 instituted by International Research Institute for Manufacturing, and Silver Award for Good Health Brand at IHW Awards 2021 in the year 2021, Best Condom Brand of the Year award at Sex Brand Awards Pharma OTC Company of the Year Award at Pharma Excellence Awards 2018, Award for Best Design in Healthcare at Healthcare Leadership Awards 2017, and Amity HR Excellence Award for Performance Management at the 8th Global HR Summit 2011.
- Experienced and High quality Top management.
IPO Timetable
| IPO Opening date | 25 April 2023 |
| IPO Closing | 27 April 2023 |
| Basis of Allotment | 03 May 2023 |
| Initiation Refund | 04 May 2023 |
| Credit to Demat Account | 05 May 2023 |
| Listing Date | 08 May 2023 |
IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹4,326.36 Cr – 40,058,844 shares |
| Fresh Issue | Nil |
| Offer for sale | ₹4,326.36 Cr – 40,058,844 shares |
| Face value | ₹1 per share |
| Price Band | ₹1026 to ₹1080 per share |
| Lot size | 13 Shares |
| Retail Allocation | 35% |
| Listing Exchange | BSE & NSE |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 13 | ₹14,040 |
| Retail (Max) | 14 | 182 | ₹196,560 |
| S-HNI (Min) | 15 | 195 | ₹210,600 |
| S-HNI (Max) | 71 | 923 | ₹996,840 |
| B-HNI (Min) | 72 | 936 | ₹1,010,880 |
Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Financial Performance
| FY 2020 | FY 2021 | FY 2022 | |
| Revenue | 5,865.2 | 6,214.4 | 7,781.6 |
| Expenses | 4,549.5 | 4,705.5 | 6,017.4 |
| Net income | 1,056.2 | 1,293.0 | 1,453.0 |
| PAT Margin (%) | 18.0 | 20.8 | 18.7 |
Valuations & Margins
| FY 2020 | FY 2021 | FY 2022 | |
| EPS | 25.72 | 31.59 | 35.78 |
| PE ratio | – | – | – |
| RONW (%) | 29.56 | 26.80 | 23.29 |
| NAV | – | – | 153.65 |
| ROCE (%) | 35.86 | 30.41 | 25.50 |
| EBITDA (%) | 24.69 | 26.71 | 25.75 |
| Debt/Equity | (0.03) | 0.02 | 0.08 |
Company Promoters
- Ramesh Juneja
- Rajeev Juneja
- Sheetal Arora
- Ramesh Juneja Family Trust
- Rajeev Juneja Family Trust
- Prem Sheetal Family Trust
Promoter Holding
| Pre Issue Share Holding | 79% |
| Post Issue Share Holding |
Lead Manager(s)
- Kotak Mahindra Capital Company Limited
- Axis Capital Limited
- IIFL Securities Ltd
- Jefferies India Private Limited
- J.P. Morgan India Private Limited
IPO Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Telephone: +91 40 6716 2222
Email: mankind.ipo@kfintech.com
Website: www.kfintech.com
Contact Details
MANKIND PHARMA LIMITED
262, Okhla Industrial Estate, Phase-III,
New Delhi 110 020, Delhi, India
Phone: +91 11 4684 6729
E-mail: investors@mankindpharma.com
Website: www.mankindpharma.com
Allotment Status
Mankind Pharma IPO allotment status will be available on the KFin Tech website. Click on this link to get allotment status.
Final thoughts
Mankind Pharma IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
