Mankind Pharma debuts with 20% premium
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Shares of Mankind Pharma made a remarkable debut on the stock exchanges on Tuesday, listing with a premium of over 20 per cent against the issue price of Rs1,080.The stock began the trade at Rs1,300, up 20.37 per cent on the BSE. It further zoomed 24.53 per cent to Rs1,366. At the NSE, shares of the company made its debut at Rs1,300.
The company commanded a market valuation of Rs54,816.52 crore. The initial share sale of Mankind Pharma received 15.32 times subscription last month. The company's IPO was entirely an Offer for Sale (OFS) of 4,00,58,844 equity shares by promoters and other existing shareholders.
Price range for the offer was at Rs1,026-1,080 a share. Mankind Pharma 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.
