Mankind Pharma IPO- Issue sails through on Day 3, oversubscribed at 2
时间:2024-06-26 12:12:03 阅读(143)
Mankind Pharma IPO opened for subscription on 25 April and the issue has been fully subscribed at 2.13 times on day 3, with total bids of 5.98 crore shares for the 2.8 crore shares offered. Qualified institutional buyers (QIBs) subscribed for 573% of their reserved portion, demonstrating high interest in the issue. The portion for retail investors remains undersubscribed as investors bid only 0.36 times of the shares reserved for RIIs. The NII portion garnered 147% bids so far. The IPO closes for subscription today.
Mankind Pharma shares’ GMP fell to Rs 30 on Thursday, compared to Rs 92 per equity share on Monday. The GMP indicated the shares are valued 2.78% over the upper end of the share price on offer. The price band for its public issue at Rs 1,026-1,080 per equity share of face value Re 1 each. At the upper end of the price band, the company’s promoters and shareholders seek to raise Rs 4,326.35 crore from the IPO.
“At the upper price band of Rs 1,080, MPL is available at a P/E of 30x (FY22), which appears reasonably priced compared to peers. Considering under-penetration of healthcare services and lower consumer expenditure in healthcare in India, MPL’s focus on chronic therapeutic areas, emphasis on increasing penetration in metro and Class I cities, growth in consumer healthcare business, good financial performance and strong distribution network, we assign a “Subscribe” rating on a long term basis,” said Geojit Financial Services, recommending investors subscribe to the issue.
猜你喜欢
- Bengaluru-based property developer Puravankara 9MFY24 sales up 89%
- Buy Bharti Airtel, Mazagon Dock for near term gains; Nifty expected to witness more weakness ahead
- Tata Motors Rating- buy; Expanding EV portfolio to small cars
- Tata Tech opens for subscription, GMP up 71%; should you subscribe to the issue-
- Board gets more teeth- Sebi widens ambit to proceed against intermediaries
- Bullion prices to consolidate in broader range with positive bias; check gold, silver support, resistance levels
- Syrma SGS Technology IPO subscribed 0
- Strategies for reducing educational disparities and ensuring equal opportunities for all students
- Tata Motors subsidiary IPO- Tata Technologies files DRHP for public issue of shares