Mankind Pharma’s IPO, which opened for public subscription on April 25-27, was well received, with the offering being 15.32 times oversubscribed. The company received bids for 42,95,12,902 shares versus the 2,80,41,192 shares offered. Now everyone is waiting for the company’s stock allocation, which will be announced next week on May 3rd. According to a report by MoneyControl, qualified institutional investors showed strong interest in Mankind Pharma’s IPO, bidding 49.16 times the allotted quota. High net worth individuals have also bought shares, with a subscription of 3.8 times the reserved portion. However, the response from retail investors was lackluster, with only 92 percent of reserved shares subscribed.
With 16 MF programs and participants including the Canada Pension Plan Investment Board (CPPIB), Abu Dhabi Investment Authority, Goldman Sachs, Fidelity, Blackrock, GIS and Nomura, the company also received an encouraging response in the anchor round, states in the report.
The public offering of Rs 4,326 crore was entirely a sale by the investors and the promoters. The final offering price is expected to be at the high end of the price range, which was between Rs 1,026 and 1,080 per share for the offering.
Investors in Mankind Pharma’s IPO can check the status of their share allotment on the BSE website or the IPO Registrar’s portal. To check allocation status:
In the case of the IPO registrar’s website
a) Select IPO “Mankind Pharma Limited”.
b) Select either “Application number”, “Demat account number” or “PAN number” and enter accordingly
c) Finally, type “Captcha” and click on the “Send” button.
Alternatively on the BSE portal,
a) Visit the official BSE website. https://www.bseindia.com/investors/appli_check.aspx
b) Page is called ‘Status of the exhibition application’
c) Click on the Equity option.
d) Select the Mankind Pharma option
e) Enter your application number
f) Provide your permanent account number or PAN
g) Click on the captcha that says “I’m not a robot” and click “Send”.
h) After clicking on the option, the details of the allocation status of your bid will be displayed. The status only becomes visible after the share allocation has been completed.
By May 4th, refunds will be credited to unsuccessful investors’ bank accounts and by May 5th shares will be transferred to demat accounts.
Also Read: Mankind Pharma IPO to open on April 25 with price range of Rs 1,026-1,080 per share
Mankind Pharma GMP
Mankind Pharma, which will officially list on the BSE and NSE on May 8, is trading at a gray market premium (GMP) of 3 to 5 per cent above the expected final issue price of Rs 1,080 per share, according to the MoneyControl report, according to the MoneyControl report. The gray market is an unofficial platform for trading IPO stocks. The premium will fluctuate based on market sentiment.
Disclaimer: This report is for informational purposes only. It should not be treated as a stock recommendation. Reader discretion is advised.
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