Mankind Pharma shares plunge 7% on day 2 after strong debut
Despite today’s fall, Mankind Pharma shares trade 23.5% higher than its initial public offering (IPO) price of ₹1,080 per share
Despite today’s fall, Mankind Pharma shares trade 23.5% higher than its initial public offering (IPO) price of ₹1,080 per share
The Delhi-based healthcare company raised ₹4,326 crore in the country’s biggest IPO so far this year, which was subscribed 15.32 times on the back of strong response from QIBs.
The portion reserved for QIBs was subscribed over 49 times, while quota for NIIs and retail investors were booked 3.8% times and 0.9 times, respectively.
The pharma company has raised ₹1,297.90 crore by allotting 1.2 crore equity shares at upper end of price band at ₹1,080 per share to 77 anchor investors.
The IPO of the pharma company will open for subscription on April 25 and close on April 27.
The IPO of the country’s fourth largest pharma company by domestic sales comprises an offer for the sale of 4 crore equity shares by the promoters and existing investors.
The IPO comprises an offer for sale (OFS) of 4 crore equity shares by the company's promoters and existing shareholders.