Mankind Pharma’s stock makes impressive entry on stock markets with a premium of more than 20%

Mankind Pharma, a leading pharmaceutical company in India, had a successful debut on the stock exchanges on May 9th. The company’s shares were listed at a premium of over 20% against the issue price of Rs 1,080, starting the trade at Rs 1,300 on the Bombay Stock Exchange (BSE).

Mankind Pharma’s stock price further soared to Rs 1,366, up by 24.53% on the BSE. The company’s market valuation stood at Rs 54,816.52 crore on its listing day. The IPO received an overwhelming response from investors and was oversubscribed 15.32 times last month.

Mankind Pharma’s IPO was entirely an Offer for Sale (OFS) of 4,00,58,844 equity shares by its promoters and other existing shareholders. The price range for the offer was between Rs 1,026-1,080 a share. The company is engaged in developing, manufacturing and marketing a diverse range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products.

The successful listing of Mankind Pharma reflects the investors’ confidence in the company’s future growth prospects and its ability to deliver value to its stakeholders. It is a significant milestone for the company, and it is expected to leverage the capital raised from the IPO to expand its business operations and increase its market share in the highly competitive pharmaceutical industry.