Mankind Pharma Limited

Mankind Pharma Limited is a New Delhi headquartered pharmaceutical company incorporated in 1991. The company develops, manufactures and markets a broad range of pharmaceutical formulations spanning both acute and chronic therapeutic areas, alongside a portfolio of consumer healthcare products. Its well known consumer brands include a leading condom brand, a pregnancy detection kit brand, and an antacid brand, sold alongside a large prescription drug portfolio covering cardiology, anti-infectives, gastro-intestinal, respiratory and other segments. By the time of its public listing, the company had grown into one of India's largest pharmaceutical players, ranked fourth by domestic sales and third by sales volume for the twelve months ended December 2022. Its promoters, Ramesh Juneja, Rajeev Juneja and Sheetal Arora, along with associated family trusts, built the business over three decades into a diversified formulations and consumer healthcare manufacturer with a wide domestic distribution network and export presence. The company's revenue grew from about Rs 5,976 crore in FY20 to about Rs 7,978 crore in FY22, with profit after tax rising over the same period, reflecting steady scale-up across its therapeutic and consumer segments. The IPO itself was structured entirely as an offer for sale by promoters and other selling shareholders, meaning the company did not receive any proceeds from the issue, and promoter shareholding was diluted only modestly as part of the listing.

Mankind Pharma raised approximately Rs 1,298 crore from anchor investors ahead of the issue opening, at the top end of the price band. Notable participants included Canada Pension Plan Investment Board, the Government of Singapore, the Monetary Authority of Singapore, Goldman Sachs, BlackRock Global Funds, the Abu Dhabi Investment Authority, Nomura Funds, Morgan Stanley and Neuberger Berman, among other domestic and foreign institutional investors.