New Delhi: The initial share sale of drug maker Mankind Pharma will open for public subscription on April 25. The three-day initial public offering (IPO) will conclude on April 27, and the bidding for anchor investors will open on April 24, according to the red herring prospectus (RHP). The company's IPO is entirely an offer for sale (OFS) of 40,058,844 equity shares by promoters and other existing shareholders.
Those selling shares in the OFS are promoters Ramesh Juneja, Rajeev Juneja and Sheetal Arora. Besides, Cairnhill CIPEF, Cairnhill CGPE, Beige Limited, and Link Investment Trust will participate in the OFS.
Since the IPO is completely an OFS, the company will not receive any net proceeds from the issue and the entire net proceeds will go to the selling shareholders.
