Mankind IPO: Mankind Pharma’s initial public offer, which was open for public subscription between April 25 and 27, got a good response with the offer being subscribed 15.32 times as it got bids for 42,95,12,902 shares as against 2,80,41,192 shares on offer.
Mankind IPO GMP Today
The shares of Mankind are currently trading at a premium of Rs 88 in the grey market, over the upper band of Rs 1,080 a share. So, the shares in the grey market are currently trading at Rs 1,168 apiece, on April 29. It indicates that the company’s shares are expected to be listed at a premium over its issue price on May 8, 2023. The premium gets fluctuated based on the sentiments in the markets.
Mankind IPO: How to Check Allotment Status
Mankind Pharma will finalise the allotment by May 3, 2023. If not allotted, the initiation of refunds will take place on May 4. Once allotted, the shares will be credited to your demat on May 5. Here’s how you can check allotment status:
a) Go to the official website of BSE or Bombay Stock Exchange. The link is (https://www.bseindia.com/investors/appli_check.aspx)
b) It will take you to a page called ‘Status of Issue Application’
c) After you land on the page, click on the ‘Equity’ option
d) From the drop-down menu that will be displayed beside the issue name, select the option ‘Mankind Pharma’
e) Write your application number on the page
f) After that, write your Permanent Account Number or PAN
g) Click on the Captcha that says ‘I am not a Robot’ and click on submit
h) After you click on the option, the details of the allotment status of your bid. The status will be visible only after the share allotment gets finalised.
Mankind Pharma IPO: Basic Details
Mankind Pharma 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.
It has established several differentiated brands in condoms, pregnancy detection, emergency contraceptives, antacid powders, vitamin and mineral supplements, and anti-acne preparation categories.
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 at IMT Manesar, Gurugram (Haryana) and Thane (Maharashtra).
The IPO was entirely an offer for sale (OFS) of 40.06 million equity shares by promoters and other existing shareholders. Its price band was fixed at Rs 1,026-1,080 per share. In the Rs 4,326-crore IPO, a bidder bid for a minimum of one lot and maximum of 13 lots. A lot had Mankind Pharma’s 13 shares.
The shares will be listed at the NSE and the BSE on May 8, 2023.