The scrip was listed at a price of Rs 1,300, at a premium of 20.37% as compared to the issue price.

So far, the stock has hit a high of 1,385.50 and a low of 1,300. On the BSE, over 6.32 lakh shares of the company were traded in the counter so far.

The initial public offer (IPO) of Mankind Pharma was subscribed 15.32 times. The issue opened for bidding on Tuesday (25 April 2023) and it closed on Thursday (27 April 2023). The price band of the IPO was fixed at Rs 1,026-1,080 per share.

The issue comprised entire offer for sale of equity shares aggregating to Rs 4,326.35 crore by existing shareholders Ramesh Juneja, Rajeev Juneja, Sheetal Arora, Cairnhill CIPEF, Cairnhill CGPE, Beige and Link Investment Trust.

The promoters and promoter group hold an aggregate of 316,464,857 equity shares, aggregating to 79% of the pre-offer issued and paid-up equity share capital. The post-IPO shareholding is expected to be around 76.5%.

The company will not directly receive any proceeds from the offer. All the offer proceeds will be received by the selling shareholders, in proportion to the offered shares sold by them.

Mankind Pharma develops, manufactures, and markets a diverse range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products. It has presence in several acute and chronic therapeutic areas in India, including anti-infectives, cardiovascular, gastrointestinal, anti-diabetic, neuro/CNS, vitamins/minerals/nutrients and respiratory.

The company reported a net profit of Rs 996.42 crore and net sales of Rs 6,696.77 crore for the nine months ended on 31 December 2022.