New Delhi. Another opportunity is coming for investors earning through Initial Public Offering (IPO). In fact, Mankind Pharma, a leading pharma company that sells Manforce condoms and pregnancy kit Prega News, is preparing to bring an IPO. Mankind Pharma, which is invested by private equity firm ChrysCapital, has submitted preliminary documents with the market regulator Securities and Exchange Board of India (SEBI).
According to the documents, the IPO includes an offer for sale (OFS) of 4,00,58,884 equity shares of the company’s promoters, existing investors and shareholders. In the OFS, Ramesh Juneja and Rajeev Juneja will sell 37,05,443 and 35,05,149 shares respectively while Sheetal Arora will sell 28,04,119 shares.
In addition, 1,74,05,559 shares will be sold by Cairnhill CIPEF, 26,23,863 equity shares by Cairnhill CGPE, 99,64,711 shares by Bez Ltd. and 50,000 shares by Link Investment Trust. The company will not receive any income from the offer. According to the documents, all proceeds will go to the selling shareholders. The shares of the company are proposed to be listed on BSE and NSE.
Know about the company
Mankind Pharma manufactures prescription medicines, OTC products and veterinary medicines. Talking about its top brands, Prega News sells its products under Manforce, Unwanted-21, Acnestar, Ringout, Gas-O-Fast and Constipation. According to the details given on the company’s website, it employs more than 14 thousand personnel and its business is in 34 countries including America, Sri Lanka, Cambodia, Kenya, Cameroon, Myanmar and Philippines.
FIRST PUBLISHED : September 16, 2022, 18:56 IST