<p>Leading pregnancy kit maker Mankind Pharma Ltd has fixed a band price of Rs 1,026 - 1,080 per share for its Rs 4,326-crore initial public offering (IPO) set to take place between April 25-27. The bidding for anchor investors will open on April 24. </p>.<p>The company's IPO is entirely an offer for sale (OFS) of 40,058,844 equity shares by promoters and other existing shareholders, meaning the company will not receive any net proceeds from the issue and the entire net proceeds will go to the selling shareholders. Those selling shares in the OFS are promoters Ramesh Juneja, Rajeev Juneja and Sheetal Arora; and investors Cairnhill CIPEF, Cairnhill CGPE, Beige Limited and Link Investment Trust.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/india-plans-to-appeal-against-wto-panel-ruling-on-it-tariffs-1210808.html" target="_blank">India plans to appeal against WTO panel ruling on IT tariffs</a></strong></p>.<p>“We promised our existing investors that after a while they will get an exit,” said company Vice-Chairman and Managing Director Rajeev Juneja, explaining the move during a press conference on Wednesday.</p>.<p>This comes at a time when several companies such as Fabindia and Joyalukkas India, among others, have deferred or scrapped their listing plans, owing to market volatility and recessionary fears.</p>.<p>About 50 per cent of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Bids can be made for a minimum of 13 equity shares and in multiples of 13 equity shares thereafter.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/once-booming-indian-startups-set-for-more-pain-as-funding-crunch-worsens-1211031.html" target="_blank">Once booming Indian startups set for more pain as funding crunch worsens</a></strong></p>.<p>Mankind Pharma posted a profit of Rs 1,016 crore for the nine months ended December 31, down from Rs 1,260.2 crore a year ago, while its revenue from operations for the same period jumped nearly 11 per cent.</p>.<p>The drugmaker develops, manufactures and markets a diverse range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products. It has a pan-India marketing presence and operates 25 manufacturing facilities across the country.</p>
<p>Leading pregnancy kit maker Mankind Pharma Ltd has fixed a band price of Rs 1,026 - 1,080 per share for its Rs 4,326-crore initial public offering (IPO) set to take place between April 25-27. The bidding for anchor investors will open on April 24. </p>.<p>The company's IPO is entirely an offer for sale (OFS) of 40,058,844 equity shares by promoters and other existing shareholders, meaning the company will not receive any net proceeds from the issue and the entire net proceeds will go to the selling shareholders. Those selling shares in the OFS are promoters Ramesh Juneja, Rajeev Juneja and Sheetal Arora; and investors Cairnhill CIPEF, Cairnhill CGPE, Beige Limited and Link Investment Trust.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/india-plans-to-appeal-against-wto-panel-ruling-on-it-tariffs-1210808.html" target="_blank">India plans to appeal against WTO panel ruling on IT tariffs</a></strong></p>.<p>“We promised our existing investors that after a while they will get an exit,” said company Vice-Chairman and Managing Director Rajeev Juneja, explaining the move during a press conference on Wednesday.</p>.<p>This comes at a time when several companies such as Fabindia and Joyalukkas India, among others, have deferred or scrapped their listing plans, owing to market volatility and recessionary fears.</p>.<p>About 50 per cent of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Bids can be made for a minimum of 13 equity shares and in multiples of 13 equity shares thereafter.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/once-booming-indian-startups-set-for-more-pain-as-funding-crunch-worsens-1211031.html" target="_blank">Once booming Indian startups set for more pain as funding crunch worsens</a></strong></p>.<p>Mankind Pharma posted a profit of Rs 1,016 crore for the nine months ended December 31, down from Rs 1,260.2 crore a year ago, while its revenue from operations for the same period jumped nearly 11 per cent.</p>.<p>The drugmaker develops, manufactures and markets a diverse range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products. It has a pan-India marketing presence and operates 25 manufacturing facilities across the country.</p>