Key Points
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..
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..
Considering under-penetration of healthcare services and lower consumer expenditure in healthcare in India, MPLs 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, saidGeojit Financial Services, recommending investors subscribe to the issue..
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