Mankind Pharma Limited has emerged as a leading pharmaceutical company focused on developing, manufacturing, and marketing pharmaceutical formulations and consumer healthcare products. With a strong foothold in India, the company operates in diverse therapeutic areas including anti-infectives, cardiovascular, gastrointestinal, anti-diabetic, neuro/CNS, vitamins/minerals/nutrients, and respiratory. With an extensive portfolio comprising more than 36 well-known brands such as Manforce (Rx), Moxikind-CV, Amlokind-AT, Unwanted-Kit, Candiforce, Gudcef, Glimestar-M, Prega News, Dydroboon, Codistar, Nurokind-Gold, Nurokind Plus-RF, Nurokind-LC, Asthakind-DX, Cefakind, Monticope, Telmikind-H, Telmikind, Gudcef-CV, and Unwanted-72, Mankind Pharma caters to a wide range of healthcare needs.
A key driver behind Mankind Pharma’s success in the Indian pharmaceutical market is its extensive distribution network of medical representatives. This robust presence across the country has fostered trust among healthcare professionals, leading to over 80% of doctors in India prescribing Mankind Pharma’s formulations. This recognition is further reinforced by the company’s remarkable domestic sales performance, securing the fourth position in sales during the Financial Year 2022. Mankind Pharma remains dedicated to fulfilling the healthcare requirements of the Indian population and maintains a steadfast commitment to innovation and growth within the pharmaceutical industry.
Mankind Pharma IPO Details
| IPO Date | Apr 25, 2023 to Apr 27, 2023 |
| Listing Date | [.] |
| Face Value | ₹1 per share |
| Price | ₹1026 to ₹1080 per share |
| Lot Size | 13 Shares |
| Total Issue Size | 40,058,844 shares (aggregating up to ₹4,326.36 Cr) |
| Offer for Sale | 40,058,844 shares of ₹1 (aggregating up to ₹4,326.36 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Mankind Pharma IPO Tentative Timetable
IPO opens on Apr 25, 2023, and closes on Apr 27, 2023.
| Event | Tentative Date |
| Opening Date | Apr 25, 2023 |
| Closing Date | Apr 27, 2023 |
| Basis of Allotment | May 3, 2023 |
| Initiation of Refunds | May 4, 2023 |
| Credit of Shares to Demat | May 5, 2023 |
| Listing Date | May 8, 2023 |
| UPI Mandate Confirmation Cut-Off Time | 5.00 PM on the issue closing day |
Company Overview
Mankind Pharma has established itself as a pharmaceutical company with an extensive distribution network of medical representatives, making it one of the largest in the Indian pharmaceutical market. Their reputation is evident as over 80% of doctors in India trust and prescribe their formulations. In terms of domestic sales, the company achieved a notable ranking of fourth during the Financial Year 2022. The company’s achievements have been recognized through various awards and accolades, including the Best of Bharat Awards 2022 by exchange4media and a Silver Medal from the National Awards for Manufacturing Competitiveness Assessment 2021.
With a wide-ranging marketing presence across India, Mankind Pharma employs a dedicated team of 11,691 medical representatives and 3,561 field managers as of December 31, 2022. To support its operations, the company operates 25 manufacturing facilities throughout the country and employs 4,121 manufacturing personnel. Additionally, Mankind Pharma places great emphasis on research and development, boasting a team of over 600 scientists and a dedicated in-house R&D center with four units located in IMT Manesar, Gurugram, Haryana, and Thane, Maharashtra.
Industry Overview
The industry is characterized by rigorous regulatory frameworks, extensive research and development efforts, and a constant drive for innovation. Pharmaceutical companies like Mankind Pharma contribute to the development of new drugs, formulations, and treatment options, addressing a wide range of diseases and medical needs.
In terms of industry growth, the pharmaceutical sector has historically exhibited a positive Compound Annual Growth Rate (CAGR). While specific CAGR figures may vary depending on the timeframe and market conditions, the global pharmaceutical industry has typically shown steady growth due to factors such as an aging population, rising healthcare spending, increasing prevalence of chronic diseases, and advancements in medical technologies.
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
| 31-Mar-20 | 5,073.29 | 5,975.65 | 1,056.15 | 3,485.31 | 3,436.34 | 126.92 |
| 31-Mar-21 | 6,372.63 | 6,385.38 | 1,293.03 | 4,722.00 | 4,674.39 | 234.53 |
| 31-Dec-21 | 8,043.88 | 6,218.29 | 1,260.24 | 5,965.46 | 5,916.86 | 268.70 |
| 31-Mar-22 | 9,147.74 | 7,977.58 | 1,452.96 | 6,155.23 | 6,106.06 | 868.03 |
| 31-Dec-22 | 9,273.75 | 6,777.82 | 1,015.98 | 7,145.89 | 7,094.12 | 167.93 |
| Amount in ₹ Crore | ||||||
Key Performance Indicator
| KPI | Values |
| P/E (x) | 32.5 |
| Market Cap (₹ Cr.) | 43263.6 |
| ROE (%) | 27.6 |
| ROCE (%) | 26.1 |
| EPS (Rs) | 33.2 |
| RoNW (%) | 27.7 |
Objects of the Issue
The company will not receive any proceeds from the offer and all the offer proceeds will be received by the selling shareholders, in proportion to the offered shares sold by the respective selling shareholders as part of the offer.
Strengths
Extensive Distribution Network
Strong Brand Portfolio
High Doctor Prescriptions
Weaknesses
Regulatory Compliance
Competitive Landscape
Dependency on Doctors’ Prescriptions
Mankind Pharma IPO Prospectus
Company Contact Information
Mankind Pharma Limited
208, Okhla Industrial Estate
Phase-III,
New Delhi 110020
Phone: +91 11 4684 6700
Email: investors@mankindpharma.com
Website: https://www.mankindpharma.com/
Mankind Pharma IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: mankind.ipo@kfintech.com
Website: https://karisma.kfintech.com/
Mankind Pharma IPO Lead Manager(s)
- Kotak Mahindra Capital Company Limited (Past IPO Performance)
- Axis Capital Limited (Past IPO Performance)
- Iifl Securities Ltd (Past IPO Performance)
- Jefferies India Private Limited (Past IPO Performance)
- J.P. Morgan India Private Limited (Past IPO Performance)
