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Mankind Pharma IPO

  • Status: Closed
  • RHP:
  • ₹ 13,338 / 13 shares

    Minimum Investment

IPO Details

  • Open Date

    25 Apr 2023

  • Close Date

    27 Apr 2023

  • IPO Price Range

    ₹ 1026 to ₹1080

  • IPO Size

    ₹ 4326.36 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    09 May 2023

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IPO Timeline

Mankind Pharma IPO Subscription Status

Last Updated: 08 May 2023 11:26 AM by 5Paisa

Mankind Pharma IPO opens on 25th April and closes on 27th April. The issue entails a pure offer for sale of upto 40.06 million shares, with a face value of Rs. 1 per share, summing up the total issue size to Rs. 4326.36cr. In the OFS, Ramesh Juneja will offload shares upto 3.71 million, Rajeev Juneja upto 3.51 million shares, Sheetal Arora upto 2.80 million shares, Cairnhill CIPEF Ltd upto  2.62 million shares, Beige ltd upto 9.96 million shares and Link Investment Trust upto 50,000 shares. The issue will be listed on the exchanges on 8th May and the shares will be allotted on 3rd May. The company has set the lot size to 13 shares per lot and the price band to Rs. 1026 – 1080 per share. Kotak Mahindra Capital, Jefferies, IIFL Capital, Axis Capital, and JP Morgan are the lead managers to the IPO.

Objective of the Mankind Pharma IPO

The net proceeds from the issue will be utilized for:

•    Carry out the Offer for Sale of 40,058,844 Equity Shares by the Selling Shareholders
•    Achieve the benefits of listing the Equity Shares on the Stock Exchanges
 

Mankind Pharma IPO Video:

Mankind Pharma is India’s fourth largest pharmaceutical company in terms of Domestic Sales and third largest in terms of sales volume for MAT December 2022. It engages 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 such as condoms, pregnancy detection, emergency contraceptives, antacid powders, vitamin and mineral supplements and anti-acne preparations categories.

It operates at the intersection of the Indian pharmaceutical formulations and consumer healthcare sectors with the aim of providing quality products at affordable prices, and have an established track record of building and scaling brands in-house. 

It has created 36 brands in its pharmaceutical business 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.

It has a pan-India marketing presence, with a field force of 11,691 medical representatives and 3,561 field managers. It has also established a significant distribution network in India and sold products to over 12,000 stockists and engaged with 75 clearing and forwarding (“C&F”) agents.

It has 25 manufacturing facilities across India and had 4,121 manufacturing personnel. The formulations manufacturing facilities have a total installed capacity of 42.05 billion units per annum across a wide range of dosage forms including tablets, capsules, syrups, vials, ampoules, blow fill seal, soft and hard gels, eye drops, creams, contraceptives and other over-the-counter products.

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Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY22 FY21 FY20
Revenue 7781.6 6214.4 5865.2
EBITDA 2003.8 1659.8 1448.3
PAT 1453.0 1293.0 1056.1
Particulars (in Rs. Crores) FY22 FY21 FY20
Total Assets 9147.7 6372.6 5073.3
Share Capital 40.1 40.1 40.1
Total Borrowings 868.0 234.5 126.9
Particulars (in Rs. Crores) FY22 FY21 FY20
Net cash generated from / (used in) operating activities 919.8 1137.2 1069.7
Net cash from / (used in) investing activities -1369.1 -1222.2 -439.2
Net cash flow from / (used in) financing activities 604.6 -7.8 -530.7
Net increase (decrease) in cash and cash equivalents 155.3 -92.8 99.8

Peer Comparison

Name of the Company Revenue from operations (in Rs. crores) Basic EPS NAV Rs. per share PE RoNW%
Mankind Pharma Limited 7781.555 35.78 153.65 NA 0.2329
Sun Pharmaceuticals Industries Limited 0.1208 13.6 200.1 71.54 0.0682
Cipla Limited 21763.34 31.17 258.32 28.18 0.1208
Zydus Lifesciences Limited 15265.2 43.83 166.05 10.95 0.264
Torrent Pharmaceutical Limited 8508.04 22.97 175.89 66.25 0.1306
Alkem Laboratories 10634.19 137.63 722.44 23.03 0.1905
JB Chemicals & Pharmaceuticals 
Limited		 2424.244 49.82 240.83 39.48 0.1806
Eris Lifesciences Limited 1347.043 29.88 140.39 19.1 0.2128
Ipca Laboratories Limited 5829.79 34.85 216.47 22.38 0.161
Abbott India Limited 4919.27 375.86 1327 56.19 0.2832
Glaxosmithkline Pharmaceuticals
Limited		 3278.029 100.04 157.19 57.03 0.6364
Dabur India Limited 10888.68 9.81 47.41 54.55 0.2075
Procter & Gamble Health Limited 1114.41 116 371.39 42.27 0.3123
Zydus Wellness 2009.1 48.54 761.26 31.11 0.0638


Strengths

1.    Domestic focused business of scale with potential for growth
2.    Established consumer healthcare franchise with brand recall Several products in portfolio with top 10 rankings across key therapeutic areas, in terms of Domestic Sales for MAT December 2022
3.    Pan-India market and distribution coverage with focus on affordability and accessibility
4.    25 manufacturing and four research and development facilities with capabilities across key therapeutic areas
 

Risks

1.    Delays, interruptions or reductions in the supply of the raw materials or finished formulations from the third-party suppliers and manufacturers, or an increase in the costs of such raw materials and finished formulations
2.    It derives a significant portion of its revenue from operations from a limited number of markets
3.    Introduction of stricter norms regulating marketing practices by pharmaceutical companies could affect firm’s ability to effectively market its products
4.    Inability of certain therapeutic areas to perform in contributing to a more significant portion of the total revenue in India or competing products becoming more available and gaining wider market acceptance.  
 

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FAQs

The price for the Mankind Pharma IPO is set at Rs. 1026 – 1080 per share

The Mankind Pharma IPO opens on 25th April and closes on 27th April.

The IPO entails a pure offer for sale of upto 40.06 million shares with a face value of Rs. 1 per share, summing up the total issue size to Rs. 4326.36cr.

The Mankind Pharma IPO lot size is 13 shares. A retail-individual investor can apply for up to 14 lots (182 shares or ₹196,560)

The allotment date of Mankind Pharma IPO is set for 3rd May.

The Mankind Pharma IPO will be listed on 8th May

The net proceeds from the issue will be used for: 

•    Carry out the Offer for Sale of 40,058,844 Equity Shares by the Selling Shareholders
•    Achieve the benefits of listing the Equity Shares on the Stock Exchanges
 

To apply for the IPO, follow the steps given below
•    Login to your 5paisa account and select the issue in the current IPO section
•    Enter the number of lots and price at which you wish to apply for
•    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange
•    You will receive a mandate notification to block funds in your UPI app
 

Mankind Pharma IPO is promoted by Ramesh Juneja, Rajeev Juneja, Sheetal Arora, Ramesh Juneja Family Trust, Rajeev Juneja Family Trust, and Prem Sheetal Family Trust.

Kotak Mahindra Capital, Jefferies, IIFL Capital, Axis Capital, and JP Morgan are the lead book managers to the issue.