Condom making giant pharma company is going to bring IPO, papers submitted with SEBI
Know what is the business of the company
Mankind Pharma was established in the year 1991. It is one of the leading pharmaceutical companies of India. Apart from branded generic drugs, the company’s leading brands include Prega-News Pregnancy Testing Kit, Manforce Condom, Gas-O-Fast Ayurvedic Antacid and acne treatment drug Acnestar. As on March 31, 2022, the company has 23 manufacturing facilities across India including the states of Himachal Pradesh, Sikkim, Rajasthan, Andhra Pradesh and Uttarakhand. After India, its major markets are the United States, Bangladesh, Sri Lanka and Nepal. In 2015, Capital International bought an 11% stake in Mankind from ChrysCapital for $200 million. In April 2018, ChrysCapital again bought a 10 percent stake for about $350 million. Talking about the company’s financial position, the company’s revenue from operations in India in the financial years 2020, 2021 and 2022 was Rs 5,788.8 crore, 6,028 crore and Rs 7,594.7 crore respectively.
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4 crore shares will be sold
According to media reports, the IPO will involve an offer for sale (OFS) of 4 crore (40,058,844) equity shares by the promoters and existing shareholders of the company. The promoters of the company are Ramesh Juneja, Rajiv Juneja, Sheetal Arora, Ramesh Juneja Family Trust, Rajiv Juneja Family Trust and Prem Sheetal Family Trust.