Mankind Pharma IPO Day 1: Mankind Pharma will launch its first public offering on Tuesday. Meanwhile, the bid/bid closing date is Thursday, April 27, 2023.
Speaking at today’s press conference, Rajeev Juneja, Managing Director of Mankind Pharma, informed that they have launched 18 new divisions in the past four years, mainly focusing on the chronic diseases segment.
Mankind Pharma develops and manufactures a wide range of pharmaceutical formulations for various acute and chronic therapeutic areas, as well as various consumer health products.
Mankind Pharma IPO Dates
The offering will open to the public on April 25, while the closing date is April 27, 2023. The company will open its anchor book, part of the QIB portion, on April 24, one day before the IPO opening.
Mankind Pharma IPO price
The company has set the Mankind Pharma IPO price range at Rs 1026 to Rs 1080 per stock share.
Size of the Mankind Pharma IPO
The first public only includes an offer for the sale of more than 4 crore shares by promoters and investors, while there is no new issuance portion.
The total fundraising by the company is said to be Rs 4,110.03 at the lower price range and Rs 4,326.35 crore at the higher price range.
Promoters Ramesh Juneja, Rajeev Juneja and Sheetal Arora will sell more than 1 crore shares through an offering for sale, and the rest of the shares in the OFS will be sold by investors Cairnhill CIPEF, Cairnhill CGPE, Beige and Link Investment Trust.
Mankind Pharma IPO Objectives of the Issuance
The main objectives of the offer would be to execute the sale offer by the selling shareholders and to gain the benefits of listing the shares on the stock exchanges.
All money raised through public offerings will go to selling shareholders and the company will receive no money from the offer.
Mankind Pharma IPO Financial
The pharmaceutical company, which comes with a market capitalization of Rs 43,264 crore, has reported a consolidated profit of Rs 996.4 crore for the nine-month period ending December FY23, a decrease of 20 percent compared to the year-ago period , impacted by lower other income, higher personnel costs and weak business performance.
Consolidated revenue for 9MFY23 grew 10.6 percent year-on-year to Rs 6,697 crore, while on the operational front, a nearly 13 percent year-on-year decline in EBITDA (earnings before interest, taxes, depreciation and amortization) was registered at Rs 1,484 crore with margin decreases by 598 basis points compared to corresponding period last financial year.
However, for the year ending March FY22, performance was better, although we have seen operating margin contraction. Profits for FY 2021-22 rose 13.3 percent to Rs 1,433.5 crore and revenue increased 25.2 percent to Rs 7,782 crore compared to last year.
FY 2021-22 EBITDA of Rs 1,989.35 crore grew by 20.7 per cent, but margin fell by 96 bps to 25.56 per cent compared to FY21.
Mankind Pharma IPO GMP today
According to market observers, Mankind Pharma IPO GMP is Rs 90 today which is Rs 15 higher than Monday’s GMP of Rs 75 per share.
Should You Subscribe to the Mankind Pharma IPO on Day 1?
Anubhuti Mishra, Equity Research Analyst at Swastika Investmart, labeled Mankind Pharma’s IPO for long-term investors a ‘buy’, saying: of consumer healthcare. However, the pharmaceutical industry is fiercely competitive, and secondly, regulatory risks and stricter standards are a potential challenge. Looking at the IPO valuation, the issue’s P/E ratio of 30x seems fully priced, and given the pure offer for sale of the issue, only high-risk investors are advised to make a long-term investment in it. to consider.
On Mankind Pharma’s IPO assessment, domestic brokerage Geogit said: In the higher price range of Rs 1,080, MPL is available at a P/E of 30x (FY22), which seems reasonably priced when compared to peers. Given the under-penetration of healthcare services and lower consumer healthcare spending in India, MPL’s focus on chronic therapeutic areas, emphasis on increasing penetration in metro and class I cities, growth in consumer healthcare, strong financial performance and strong distribution network, we designate a “Subscribe long-term rating.
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