Mankind Pharma IPO: GMP rises ahead of likely share allotment tomorrow. Here's how to check status
Mankind Pharma's Rs 4,326 crore initial public offering (IPO), the largest by a domestic drug maker so far in 2021 and with a 15.32 times subscription rate, will have share allotments made on 3 May via a lottery. Retail investor bids for the offer...
By Akash Podishetti, ETMarkets.com | Updated:
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The share allotment of Mankind Pharma is expected on May 3, wherein investors will get shares on a lottery basis. The whole process will be supervised by the registrar.
On the allotment date, investors get to know about the number of shares allotted to them as against the bids made. They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE.
Step 1: Visit the BSE Website
Step 2: Please select the issue name, that is the company's name in the drop-down.
Step 3: Enter the application number or PAN number to check the allotment status.
The Rs 4,326 crore initial share sale of Mankind Pharma, which is completely an offer for sale (OFS) was subscribed 15.32 times at close, driven by strong interest from qualified institutional buyers (QIB).
The IPO of Mankind Pharma is the largest so far this year and one of the largest ever by a domestic drug maker since Gland Pharma came up with its Rs 6,480 crore public issue.
The QIB part was subscribed an overwhelming 49 times, the NII bit was subscribed 3.8 times. Retail investors didn't show much interest as the subscription for their part was below 100%.
At the upper price band of Rs 1,080, Mankind Pharma is valued at a price-to-earnings ratio of 30 times FY22 earnings and commands a market capitalisation of Rs 44,000 crore. Post-IPO, the promoter will hold 78% of the company, with 12% held by existing PE investors.
According to market sources, the company's shares are commanding a premium of Rs 95-98 in the unlisted market, largely led by oversubscription. This suggests Mankind Pharma shares will get listed at a premium of 9% over the issue price.
Grey market premiums are just an indicator of how the company's shares are stacked up in the unlisted market and are subject to change rapidly.
Mankind Pharma is the fourth largest Indian pharmaceutical company in terms of domestic sales and third largest in terms of sales volume for moving annual total as of December 2022.
It has a pan-India marketing presence and operates 25 manufacturing facilities across the country. As of December 2022, the company had a team of over 600 scientists and a dedicated in-house R&D centre with four units located at IMT Manesar, Gurugram and Thane.
On the allotment date, investors get to know about the number of shares allotted to them as against the bids made. They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE.
Step 1: Visit the BSE Website
Step 2: Please select the issue name, that is the company's name in the drop-down.
Step 3: Enter the application number or PAN number to check the allotment status.
The Rs 4,326 crore initial share sale of Mankind Pharma, which is completely an offer for sale (OFS) was subscribed 15.32 times at close, driven by strong interest from qualified institutional buyers (QIB).
ADVERTISEMENT
The IPO of Mankind Pharma is the largest so far this year and one of the largest ever by a domestic drug maker since Gland Pharma came up with its Rs 6,480 crore public issue.
The QIB part was subscribed an overwhelming 49 times, the NII bit was subscribed 3.8 times. Retail investors didn't show much interest as the subscription for their part was below 100%.
At the upper price band of Rs 1,080, Mankind Pharma is valued at a price-to-earnings ratio of 30 times FY22 earnings and commands a market capitalisation of Rs 44,000 crore. Post-IPO, the promoter will hold 78% of the company, with 12% held by existing PE investors.
According to market sources, the company's shares are commanding a premium of Rs 95-98 in the unlisted market, largely led by oversubscription. This suggests Mankind Pharma shares will get listed at a premium of 9% over the issue price.
ADVERTISEMENT
Grey market premiums are just an indicator of how the company's shares are stacked up in the unlisted market and are subject to change rapidly.
Mankind Pharma is the fourth largest Indian pharmaceutical company in terms of domestic sales and third largest in terms of sales volume for moving annual total as of December 2022.
ADVERTISEMENT
It has a pan-India marketing presence and operates 25 manufacturing facilities across the country. As of December 2022, the company had a team of over 600 scientists and a dedicated in-house R&D centre with four units located at IMT Manesar, Gurugram and Thane.
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