MANKIND PHARMA TO RAISE $1 BILLION

The largest Drugmaker in India, founded by Ramesh Juneja and Rajeev Juneja in 1995 is planning to launch its IPO by the end of the current calendar year. Mankind Pharma, a manufacturer of products like pregnancy kits is in the process to launch a $1billion or Rs7600 crore IPO. This will be one of the largest-ever IPO in the pharma Industry.

Lead bankers for the IPO

JM Morgan, Citi, Jefferies, Axis, IIFL, and Kotak has been hired as investment bankers to manage the $1 billion IPO.

Mankind Pharma’s Product and Market

The firm focuses on cardiovascular antibiotics, gastrointestinal, antiallergic, anti-fungal, orthopedic, and gynecological segments. The pharma company operates in over 34 overseas markets with over 14000 employees. Further to expand its footprints in the domestic market, the firm bought formulation brands of Panacea Biotec for India and Nepal for Rs1,872 crores. Thus helping the company to enter new therapeutic areas like oncology transplants.

Offer for sale details of the IPO

It will be an offer for sale IPO, where existing investor ChrysCapital backed consortium of GIC of Singapore and CPP investment own 10%, would shed 1% stake, Capital International owns 11% stake will sell 6% stake and the Promoters would sell 3%.

Financial of Mankind Pharma

  • The firm has given a return on equity in FY22 at a rate of 22.90%.
  • EBITDA of the company has surged by 29.65%
  • In 2021-22, the firm posted a revenue of Rs8000 crores.

More details of the Mankind Pharma will be out as soon as the DRHP is filled with the market regulators SEBI. Stay tuned to Invest19.com, to know about the development of Mankind Pharma.

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