Mankind Pharma To Make Stock Market Debut Tomorrow, GMP Indicates Stellar Listing

New Delhi: Mankind Pharma is all set to make its stock market debut on Tuesday, with the grey market prices indicating a bumper listing on bourses. 

Mankind Pharma IPO GMP

As per reports, the Mankind Pharma latest GMP suggests a premium of Rs 103, suggesting that the scrip will have a remarkable debut on its stock market listing. 

Mankind IPO Stock Market Listing

Post the public subscription, the shares of Mankind Pharma are expected to go live on stock exchanges Tuesday (May 9, 2023).

Mankind IPO Details

The company's IPO is entirely an offer for sale (OFS) of 40,058,844 equity shares by promoters and other existing shareholders. Those selling shares in the OFS are promoters Ramesh Juneja, Rajeev Juneja and Sheetal Arora. Besides, Cairnhill CIPEF, Cairnhill CGPE, Beige Limited, and Link Investment Trust will participate in the OFS. Since the IPO is completely an OFS, the company will not receive any net proceeds from the issue and the entire net proceeds will go to the selling shareholders.

Kotak Mahindra Capital Company, Axis Capital, IIFL Securities, Jefferies India and JP Morgan India are the book-running lead managers to the issue.