Mankind Pharma IPO
Mankind Pharma IPO — date, price band, lot size & details 2023
Mankind Pharma listed on 9 May 2023 at ₹1,300, 20.4% above the ₹1,080 issue price.
Mankind Pharma is India's fourth largest pharmaceutical company by domestic sales, with prescription brands and consumer healthcare brands such as Manforce and Prega News. Its total income was Rs 7,977.58 crore in FY2022.
Stock price
Mankind Pharma is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 25 Apr 2023
- Close 27 Apr 2023
- Allotment 03 May 2023
- Refund/credit 04 May 2023
- Listing 09 May 2023
Issue summary
The terms of the offer, as filed.
| IPO Dates | 25 to 27 Apr, 2023 |
|---|---|
| Price Band | ₹1026 – ₹1080 |
| Face Value | ₹1 |
| Lot Size | 13 Shares |
| Issue Size | ₹4326.36 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,040 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 13 shares at the ₹1080 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 13 | ₹14,040 |
| Retail (max) | 14 | 182 | ₹1,96,560 |
| S-HNI (min) | 15 | 195 | ₹2,10,600 |
| S-HNI (max) | 71 | 923 | ₹9,96,840 |
| B-HNI (min) | 72 | 936 | ₹10,10,880 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Profit after tax rose from Rs 1,056.15 crore in FY2020 to Rs 1,452.96 crore in FY2022.
- 02Total income rose from Rs 5,975.65 crore in FY2020 to Rs 7,977.58 crore in FY2022.
- 03Total borrowing fell to Rs 167.93 crore on 31 December 2022, against net worth of Rs 7,145.89 crore.
- 04It is the 4th largest pharma company in India by domestic sales and the 3rd largest by volume, as per IQVIA.
- 05The source puts return on net worth at 27.70% and the PAT margin at 18.67%.
Risks · 5
- 01The whole Rs 4,326.36 crore issue was offer for sale, so no money went to the company.
- 02The pre-issue P/E was 29.78 at the upper band of Rs 1,080, based on EPS of Rs 36.27.
- 03Profit after tax was Rs 1,015.98 crore in the nine months to 31 December 2022, below Rs 1,260.24 crore a year earlier.
- 04Most sales come from India, so drug price controls can hit margins. Total borrowing had been Rs 868.03 crore on 31 March 2022.
- 05Promoters and the promoter group held 79% before the issue and 76.5% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Mankind Pharma offer document.
| Metric | 31 Dec 2022 | 31 Mar 2022 | 31 Dec 2021 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|---|
| Assets | 9,273.75 | 9,147.74 | 8,043.88 | 6,372.63 | 5,073.29 |
| Total Income | 6,777.82 | 7,977.58 | 6,218.29 | 6,385.38 | 5,975.65 |
| Profit After Tax | 1,015.98 | 1,452.96 | 1,260.24 | 1,293.03 | 1,056.15 |
| NET Worth | 7,145.89 | 6,155.23 | 5,965.46 | 4,722.00 | 3,485.31 |
| Total Borrowing | 167.93 | 868.03 | 268.70 | 234.53 | 126.92 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Mankind Pharma RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Mankind Pharma IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹36.27 | ₹33.82 |
| P/E Ratio (x) | 29.78 | 31.93 |
| Market Cap at Offer Price (₹ Cr) | ₹30,252.51 | ₹32,444.07 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹1080 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the Mankind Pharma IPO will be updated shortly.
About the company
It focuses on the Indian market, where it develops, makes and markets formulations across acute and chronic areas such as anti-infectives, cardiovascular, gastrointestinal, anti-diabetic, neuro/CNS, vitamins and respiratory.
In consumer healthcare it has brands in condoms, pregnancy detection, emergency contraceptives, antacid powders, vitamin supplements and anti-acne products. Its brands include Manforce, Moxikind-CV, Amlokind-AT, Unwanted-Kit, Prega News, Gudcef and Telmikind.
The IPO was Rs 4,326.36 crore and was entirely an offer for sale by the three individual promoters and investors Cairnhill and Beige, so the company received none of the money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Mankind Pharma IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Axis Capital
126 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Kotak Mahindra Capital Company Limited
93 issues handledBest listing: Premier Energies (+120.0%). Weakest: Rategain Travel Technologies (-15.3%).
Jefferies India Private Limited
34 issues handledBest listing: Nazara Technologies (+80.7%). Weakest: Turtlemint Fintech Solutions (-10.4%).
IIFL Capital Services Limited
116 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: Rategain Travel Technologies (-15.3%).
JP Morgan India Pvt. Ltd
22 issues handledBest listing: Premier Energies (+120.0%). Weakest: Nuvoco Vistas Corporation (-14.9%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Mankind Pharma?
The current Grey Market Premium is ₹90, or 8% over the issue price.
What is the Mankind Pharma IPO price band?
₹1026 to ₹1080, on a face value of ₹1.
When is the allotment?
The basis of allotment is 3 May 2023, with listing on 9 May 2023.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
