Bid/offer closing date will be Thursday, April 27, 2023
Mankind Pharma to open its initial public offering of 40,058,844 equity shares on Tuesday, April 25, 2023. Bid/offer closing date will be Thursday, April 27, 2023. The price band of the offer has been fixed from Rs 1,026 per equity share to Rs 1,080 per equity share. Bids can be made for a minimum of 13 equity shares and in multiples of 13 equity shares thereafter.
The anchor investor bidding date is one working day prior to bid/offer opening date, that is, April 24, 2023.
The offer of 40,058,844 equity shares comprises an offer for sale of 3,705,443 equity shares by Ramesh Juneja; 3,505,149 equity shares by Rajeev Juneja; 2,804,119 equity shares by Sheetal Arora (collectively, the promoter selling shareholders); 17,405,559 equity shares by Cairnhill CIPEF; 2,623,863 equity shares by Cairnhill CGPE; 9,964,711 equity shares by Beige; and 50,000 equity shares by Link Investment Trust (collectively, the Investor Selling Shareholders, and together with the Promoter Selling Shareholders, the Selling Shareholders).
The offer is being made through the Book Building Process in accordance with Regulation 6(1) of the SEBI ICDR Regulations wherein not more than 50 per cent of the offer shall be available for allocation on a proportionate basis to QIBs (the QIB Portion), provided that the Company and the Selling Shareholders, in consultation with the BRLMs, may allocate up to 60 per cent of the QIB Portion to Anchor Investors and the basis of such allocation will be on a discretionary basis by the Company and the Selling Shareholders, in consultation with the BRLMs, in accordance with the SEBI ICDR Regulations (the Anchor Investor Portion), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors (Anchor Investor Allocation Price).
Further, five per cent of the Net QIB Portion will be available for allocation on a proportionate basis only to Mutual Funds, subject to valid Bids being received at or above the Offer Price, and the remainder of the Net QIB Portion will be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price.
Further, not less than 15 per cent of the Offer will be available for allocation to Non-Institutional Category (NIIs) of which one-third of the non-institutional category shall be available for allocation to bidders with an application size of more than Rs 200,000 and up to Rs 1,000,000 and two-thirds of the non-institutional category will be available for allocation to bidders with an application size of more than Rs 1,000,000 and under-subscription in either of these two sub-categories of non-institutional category may be allocated to bidders in the other sub-category of non-institutional category in accordance with the SEBI ICDR regulations, subject to valid Bids being received at or above the offer price.
The equity shares offered through Red Herring Prospectus are proposed to be listed on both BSE and National Stock Exchange of India.
Kotak Mahindra Capital Company, Axis Capital, IIFL Securities, Jefferies India, and J.P. Morgan India are the Book Running Lead Managers to the offer.
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