Mankind Pharma announced on Monday that it raised Rs 1,298 crore from anchor investors, prior to the launch of its initial share sale scheduled for subscription starting from April 25.
The anchor allocation was conducted at a price of Rs 1,080 per share, with various prominent investors such as Goldman Sachs, Canada Pension Plan, Government of Singapore, and Fidelity Investment Trust taking part in the process.
The subscription for the IPO will commence on April 25 and will be open for bidding until April 27. The offering consists of an offer for sale (OFS) of 40 million shares by the promoters and other existing shareholders.
The distribution of the issue size has been planned as follows: half of it is set aside for qualified institutional buyers (QIBs), 35 percent for retail investors, and 15 percent for non-institutional investors.
Throughout the day, the company's grey market premium has experienced a sharp increase, starting at Rs 65 in the morning and reaching approximately Rs 85 by evening, just before the allocation of anchor investors.
Out of the 77 anchor investors, 44 are domestic mutual fund houses that have participated in the anchor round via different schemes. Notable domestic fund houses that have taken part include HDFC Mutual Fund, SBI Mutual Fund, and ICICI Pru MF, among others.
As of December 2022, Mankind Pharma is among the top pharmaceutical companies in India, ranking fourth in terms of domestic sales and third in sales volume based on the moving annual total.
(Edited by : Anand Singha)
First Published: Apr 24, 2023 11:04 PM IST
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