Mankind Pharma IPO

Mankind Pharma Limited is the second-largest pharmaceutical firm in India for the Financial Year 2022 and the fourth-largest in respect of domestic sales (Source: IQVIA Dataset, IQVIA TSA MAT March 2022 Dataset for India For FY20-22). Mankind Pharma IPO will hit the stock market in January 2023.

About Mankind Pharma

Along with a number of consumer healthcare items, they are involved in the development, production, and marketing of a wide variety of pharmaceutical formulations for use in both acute and chronic therapeutic areas.

They have a strong domestic market focus, and as a result, for the Financial Year 2022, 97.60% of their total revenue from operations came from operations in India.

This was among the highest contributions among peers identified by IQVIA (key pharmaceutical companies operating in comparable therapeutic areas).

In terms of domestic sales in the financial year 2022, they are the youngest firm among the five top pharmaceutical companies in India and have mostly grown organically. They work in the Indian pharmaceutical formulations intersect and consumer healthcare sectors.

Business

They have continuously exceeded the rise of the IPM and have seen steady development. Their Domestic Sales increased by approximately 1.5 times more between the Financial Years 2020 and 2022 than the IPM, which increased by approximately 1.5 times more between the Financial Years 2020 and 2022 from approximately $1,503 billion to approximately $1,855 billion (Source: IQVIA Dataset, IQVIA TSA MAT March 2022 Dataset for India (For FY20-22)).

The 10 largest corporates in the IPM by domestic sales experienced the strongest growth between the Financial Years 2020 & 2022 (at a CAGR of over 16%) (Source: IQVIA Dataset, IQVIA TSA MAT March 2022 Dataset for India). They had RoCE of 35.86%, 30.41% and 25.50% for the Financial Years 2020, 2021 & 2022, respectively

Products

In India, they can be found in a number of acute & long-term therapeutic categories, such as respiratory, cardiovascular, gastrointestinal, anti-diabetic, gastrointestinal, neuro/CNS, & vitamins/minerals/nutrients.

Between the Financial Years 2020 and 2022, their Covered Market share in the IPM climbed from roughly 62% to roughly 64% (Source: IQVIA Dataset, IQVIA TSA MAT).

In the previous three Financial Years, they have created new divisions across a number of chronic therapeutic categories, including anti-diabetic, cardiovascular, neuro/CNS, and respiratory. They have accomplished this by focusing on growing penetration in the chronic therapeutic areas.

Domestic Sales from their chronic therapeutic areas climbed at a CAGR of about 18% during the Financial Years 2020 and 2022 as a result of a greater focus on these therapeutic areas.

Mankind Pharma IPO

Mankind Pharma Limited, headquartered in Delhi has submitted Draft Red Herring Prospectus(DRHP) to Securities and Exchange Board of India(SEBI) for initial public offering (IPO) of 40,058,844 Equity Shares on 15 September 2022.

The offer doesn’t includes a fresh issue and there is of 40,058,844 Equity Share offer for sale (OFS) by the promoters mentioned in the DRHP. They are not looking for any Pre-IPO placement in this issue.

They are now waiting for approval from Securities and Exchange Board of India(SEBI) to float the initial public offering (IPO) in the market.

Financials Trends

Particulars	For the year/period ended ( in Cr.)
		31-Mar-22	31-Mar-21	31-Mar-20
Total Assets		9,147.74	6,372.63	5,073.29
Total Revenue		7,977.58	6,385.38	5,975.65
Profit After Tax		1,452.96	1,293.03	1,056.15

Basic and Diluted Earnings Per Share

Financial Period	Basic EPS (in INR)	Diluted EPS (in INR)	Weight
Financial Year 2020	25.72	25.72	3
Financial Year 2021	31.59	31.59	2
Financial Year 2022	35.78	35.78	1
Weighted Average	32.71	32.71

Objects of the Issue

• Prepayment / repayment of all or a portion of the outstanding borrowings of the company to be availed on consolidated basis.
• To meet common corporate objectives.

Basis of the offer

Mankind Pharma Limited feel that the following qualitative factors & business strengths enable them to compete successfully in the industry, and that these factors will be used to calculate the Offer Price:

• Scaled domestic company with prospects for future expansion.
• Accelerating growth with a focus on volume-led growth, exceeding IPM rates.
• Market-leading rankings in major therapeutic categories and a diverse portfolio.
• A reputable, expanding, and well-known consumer healthcare franchise.
• Used their corporate brand as a tool to expand and establish brands.
• Extensive market and distribution reach with an emphasis on accessibility and cost.
• Capabilities for production and R&D that are extensive and varied.
• Private equity investors support the management team, which has experience and professionalism.

Mankind Pharma Peer Comparison

S. No.	Face Value	Company Name	PE
1	1	Sun Pharmaceuticals Industries Limited	65.38
2	2	Cipla Limited	33.85
3	1	Zydus Lifesciences Limited	8.54
4	5	Torrent Pharmaceutical Limited	66.02
5	2	Alkem Laboratories	23.14
6	2	JB Chemicals & Pharmaceuticals Limited	37.54
7	1	Eris Lifesciences Limited	23.43
8	2	Ipca Laboratories Limited	24.99
9	10	Abbott India Limited	48.46
10	10	Glaxosmithkline Pharmaceuticals Limited	14.27
11	1	Dabur India Limited	58.48
12	10	Procter & Gamble Health Limited	37.01
13	10	Zydus Wellness Limited	34.05

1. All financial data for listed industry peers is on a standalone/consolidated basis and comes from the audited consolidated/standalone financial statements of the respective firms for the year ending March 31, 2021, which can be found on the Stock Exchanges’ websites.
2. The P/E ratio is calculated by dividing the closing market price of equity shares on the NSE on n September 9, 2022 by the diluted EPS derived from the peer group company’s annual report for the year ended March 31, 2021.

Mankind Pharma IPO Details

IPO Opening Date	January 2023
IPO Closing Date	January 2023
Issue Type	Book Building
Face Value	1 per share
IPO Price	0 to 0 per equity share
Market Lot	–
Min Amount	–
Listing At	BSE, NSE
Issue Size	40,058,844 Equity Shares
Fresh Issue	0
Offer for Sale	40,058,844 Equity Shares

Mankind Pharma IPO Date

Mankind Pharma Limited IPO opening date is January 2023, and the closing date is January 2023. The Mankind Pharma issue may list in January 2023.

IPO Opening Date	January 2023
IPO Closing Date	January 2023
Basis of Allotment Date	January 2023
Initiation of Refunds	January 2023
Credit of Shares to Demat Account	January 2023
IPO Listing Date	January 2023

Basis of Allotment

Type	% of Offer	Basis of Allotment
Qualified Institutional Buyer	50	Roughly  equivalent
Non Institutional Investor	15	Roughly  equivalent
Retail	35	Minimum 1 lot based on availability

Mankind Pharma IPO Status

Allotment of equity stocks subject to the Fresh Issue and transfer of the Promoter Selling Shareholders’ OFS Stocks to the winning Bidders subject to the Offer for Sale. Nevertheless, the status of the allotment has yet to be revealed.

Here, you can find the Allotment Status of Mankind Pharma IPO.

Mankind Pharma IPO GMP

Mankind Pharma Limited IPO Grey Market Premium is 0. You can check out GMP of Other IPOs on below Links:

Date	GMP (in Rs)	Subject to Sauda	Kostak (in Rs)
January 2023
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January 2023
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Check Out the GMP of all Other IPOs

IPO Grey Market Premium

Mankind Pharma Limited IPO Review

Mankind Pharma Limited IPO review will depend on the price band which will be announced after SEBI approval. Whenever it will be announced we will update you regarding review of Mankind Pharma IPO is good or bad.

Mankind Pharma Limited IPO Risk

• They are governed by numerous government restrictions, all of which are mutable. Their business, financial situation & operational outcomes will suffer if they don’t adhere to the necessary regulations set forth by the governments and relevant regulatory authorities.
• To run their firm, they must acquire, keep up with, or renew the necessary licenses, registrations, and statutory and regulatory permissions.
• Any interruption, slowdown, or stoppage in their manufacturing or R&D processes could have a negative impact on their financial performance.
• Their commercial and operational outcomes may suffer if they are unable to predict customer demand for their items and effectively manage their inventories.
• They operate in a small number of markets, yet these markets account for a sizable amount of their revenue.

Other Threats

1. The availability of fake medications, such as those sold as Their products by others, could negatively impact their business.
2. Their firm could suffer if they are unable to implement their expansion, growth & business strategy plans properly.
3. Any issues with their quality assurance or production procedures could hurt their reputation, result in regulatory action, expose them to legal action, or result in other liabilities.
4. They risk having their business negatively impacted by an increase in product liability claims if they don’t follow the relevant quality standards.
5. For the selling & distribution of their products, they depend on their medical agents, distributors, & merchants.
6. They might not be able to secure & uphold the intellectual property rights for their brands or safeguard their confidential data.

Mankind Pharma Limited IPO Brokerage views

Once the dates will be announced we will update the views of different brokerage firms regarding this IPO. Here is the views of different stock brokers regarding this Mankind Pharma IPO:

• Yes Securities : Not Updated
• Choice Brokering: Not Updated
• Axis Securities: Not Updated
• IIFL Securities: Not Updated
• Trade swift: Not Updated
• Anand Rathi : Not Updated
• ICICI Securities: Not Updated

Mankind Pharma Limited IPO Subscription Status

Date	Day	QIB	NII	Retail	Employees	Total Subscription
January 2023	1
January 2023	2
January 2023	3

Mankind Pharma Limited Management

The management team and Board of Directors, who come from various backgrounds and have expertise in a range of areas including R&D, pharmaceutical sciences, corporate affairs, management, finance, legal affairs, taxation, mergers & acquisitions, private equity, and investments, are responsible for the company’s business and operations.

Their respective Promoters, Ramesh Juneja (Chairman & Whole-Time Director), who has over 31 years of work experience in the pharmaceuticals industry, and Rajeev Juneja (Vice Chairman & Managing Director), who has over 29 years of experience in the pharmaceuticals industry, benefit from their collective industry knowledge, vision, and leadership.

Arjun Juneja, their Chief Operating Officer, and Sheetal Arora, their Chief Executive Officer and Whole-Time Director, are also crucial to the management, operations, and expansion of their business.

Mankind Pharma Limited‘ Promoters

• Ramesh Juneja, Rajeev Juneja
• Sheetal Arora
• Ramesh Juneja Family Trust
• Rajeev Juneja Family Trust
• Prem Sheetal Family Trust

Principal Shareholder’s Holding

Pre Issue Share Holding	67.29%
Post Issue Share Holding

Mankind Pharma Limited Prospectus