Price band fixed at ₹ 1,026 per share to ₹ 1,080 per share against face value of ₹ 1 per equity share of Mankind Pharma
A minimum of 13 and thereafter in multiples of 13 equity shares can be applied for
AHMEDABAD, MANKIND PHARMA LIMITED (COMPANY) offers initial public offering for 40,058,844 equity shares, which opens on Tuesday, April 25, 2023. Closing date for applications/offers is Thursday, April 27, 2023. The date of application for Anchor Investor has been fixed as April 24, 2023, one day before the date of opening of public subscription. MANKIND PHARMA’S IPO TO OPEN ON TUESDAY APRIL 25 2023
The price band offer is fixed at ₹ 1,026 to ₹ 1,080 per equity share. Applications can be made for a minimum of 13 equity shares and in multiples of 13 thereafter.
3,705,443 equity shares by Ramesh Juneja, 3,505,149 equity shares by Rajiv Juneja, 2,804,119 equity shares by Sheetal Arora (collectively promoter selling shareholders) in offer of 40,058,844 equity shares; 17,405,559 equity shares by Cairnhill CIPEF Limited, 2,623,863 equity shares by Cairnhill CGPE Limited,
9,964,711 Equity Shares by Beige Limited and 50,000 Equity Shares by Link Investment Trust (collectively Investor Selling Shareholders and Promoter Selling Shareholders, Selling Shareholders) have been offered for sale.
This offer is subject to the terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”), as well as the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. , which are being amended as (“SEBI ICDR Regulations”).
The Offer is being made through a book building process in accordance with Rule 6(1) of the SEBI ICDR Regulations where not more than 50% of the Offer (“QIB Portion”) is available to QIB on a proportional basis, unless the Company and Selling Shareholders in consultation with BRLM allocate 60% of the QIB Portion. till allotment to Anchor Investors and such allotment shall be entirely dependent on the Company and the Selling Shareholders
Who, in consultation with BRLM, in accordance with SEBI ICDR Regulations (“Anchor Investor Portion”), one-third of which shall be reserved for domestic mutual funds, based on valid applications received by domestic mutual funds for the amount specified above or above,
The amount will be allocated to anchor investors. Further, 5% of the net QIB portion shall be available for allotment only to Mutual Funds on a pro rata basis, based on valid bids received at or above the offer price prescribed above,
And the remaining net QIB portion will be available for allocation to all QIBs (except anchor investors) including mutual funds on a pro rata basis, based on valid bids received at or above the offer price determined above.
Further, at least 15% of the offer will be available for allotment to the NII, out of which one-third of the non-institutional category will be available for allotment to applicants who have bid for an amount exceeding ₹ 200,000 and up to ₹ 1,000,000,
And two-thirds of the non-institutional category shall be for allotment of applicants for an amount exceeding ₹ 1,000,000 and if there are less applications in any one of these two sub-categories of the non-institutional category, the allotment shall be made to the other sub-category of the non-institutional category as per SEBI ICDR Regulations. Applicants will,
Which will be based on the valid bids received for the offer price fixed above or higher. Also as per SEBI ICDR Regulations at least 35% of the offer will be available for RII (Retail category) based on valid applications received at or above the offer price specified above.
It is mandatory for all applicants (other than Anchor Investors) to participate in this offer through the Application Supported By Blocked Amount (“ASBA”) process and provide their bank details (including UPI ID in case of UPI applicants), including self-certified syndicate banks or sponsor banks, which Bid amount will be blocked as applicable. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process.
The equity shares being offered through red herring prospectus will be listed on both BSE Limited and National Stock Exchange (NSE).
Kotak Mahindra Capital Company Limited, Axis Capital Limited, IIFL Securities Limited, Jefferies India Private Limited and J.P. Morgan India Private Limited are the Book Running Lead Managers of the Offer.
All capitalized terms used herein, unless otherwise defined, shall have the same meaning ascribed to them in the Red Herring Prospectus dated April 14, 2023.