Mankind Pharma files draft paper with SEBI for IPO

Pharmaceutical company Mankind Pharma Ltd, which is known for the brands like Manforce Condoms and Prega-News, has filed the draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) for IPO.

The Initial public offering (IPO) of Mankind Pharma will comprise an offer for sale (OFS) of 40,058,844 (around 4 crore) equity shares by the company's promoters and existing shareholders.

The promoters of the company include Ramesh Juneja, Rajeev Juneja, Sheetal Arora, Ramesh Juneja Family Trust, Rajeev Juneja Family Trust and Prem Sheetal Family Trust.

The offer for sale comprises up to 1 crore shares by promoter Juneja family, up to 2 crore shares by Capital International, up to 99.65 lakh by Beige, and up to 50,000 equity shares by Link Investment Trust.

The size of the IPO is estimated to be around Rs 7,500 crore. This will be among the largest ever IPO in the Indian pharma industry.

Mankind Pharma was incorporated in 1991. The company's popular brands include Prega-News pregnancy testing kits, Manforce condoms, Gas-O-Fast ayurvedic antacids and acne-treating medicine AcneStar.

Mankind Pharma operates 23 manufacturing facilities across India, including in the states of Himachal Pradesh, Sikkim, Rajasthan, Andhra Pradesh and Uttarakhand as of March 31, 2022.

( With inputs from ANI )

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