Key Points
Retail investors bid 14,39,737 times of the shares reserved for RIIs...
Mankind Pharma IPO opened for subscription on 25 April and the issue has been booked 0.14 times on day 1, with total bids of 40,57,417 shares..
Mankind Pharma shares GMP rose to Rs 92 per equity share, 8.5% over the upper end of the share price on offer..
Mankind Pharma is engaged in developing, manufacturing, and marketing a diverse range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products..
Since it is highly focused on India as a geography, it is less likely to witness medium term headwinds such as excessive competition in regulated markets such as US & Europe, currency risks, economic slowdown/ recession that are being faced by the players doing business globally, said ICICI Securities, recommending investors subscribe to the issue..
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