- By Shreya Shrivastava
- 11th January, 2024
- Loans
Mankind Pharma Ltd is set to make its debut on the stock market today through its initial public offering (IPO). According to information available on the BSE website, Mankind Pharma’s shares will be listed on both the NSE and BSE on May 9, 2023. The IPO listing date has been scheduled for today, and the shares will enter the market during a special pre-open session.
As per market reports, the Grey Market Premium (GMP) for Mankind Pharma’s shares is currently at ₹120 per equity share. Additionally, financial experts are optimistic about a positive debut for Mankind Pharma on the stock market. It is anticipated that the listing premium for allottees could range from 10-12%, with the IPO listing price estimated to be around ₹1,300 per share, provided the bullish trend continues on Dalal Street.
Speaking about the expected debut of Mankind Pharma’s share price, Prashanth Tapse, Senior Vice President at Mehta Equities, expressed optimism, saying, “Expecting a decent listing gains of around 7-10 per cent on the issue price considering healthy market mood and a strong subscription response from the investors, led by the institutions while the offer also witnessed muted response from the retailers due to concern on 100 per cent OFS.”
Anubhuti Mishra, Equity Research Analyst at Swastika Investmart, also shared positive sentiments, stating, “Mankind Pharma is a well-known and established pharmaceutical company that offers pharmaceuticals as well as several consumer healthcare products. The IPO was fully priced with a P/E valuation of 30x and was a complete offer for sale. The offering garnered significant interest from investors, especially in the QIB category. As of the latest data, Mankind Pharma share price has seen appreciation in the grey market, particularly after the share allotment on May 3rd, 2023. Therefore, a profitable listing is anticipated, although the success of the Mankind Pharma IPO listing will ultimately depend on the overall market sentiment.”
Discussing potential IPO listing prices, Ravi Singhal, CEO at GCL Broking, highlighted the market’s influence, saying, “Much will depend upon the kind of opening the Indian stock market gets today. In a bullish scenario, Mankind Pharma IPO listing premium could be around 10-12 per cent, whereas in a bearish case, we might see a par listing of Mankind Pharma shares. In a bullish case, Mankind Pharma share price may debut at around ₹1,300 apiece levels, whereas in a bearish case, we may see Mankind Pharma IPO listing at around ₹1,100 apiece levels.”
Investors and market participants are closely watching the IPO debut of Mankind Pharma, eager to gauge the performance of the company’s shares on their first day of trading.
