First day of Mankind Pharma IPO has 8% subscription; GMP falls 30% in 10 days

Get the latest update on Mankind Pharma’s IPO, with only 8% subscription on the first day, and a 30% fall in Grey Market Premium (GMP) within 10 days. Stay informed about the current status of Mankind Pharma’s IPO.

The initial public offering (IPO) of Mankind Pharma, which is India’s fourth biggest pharmaceutical business, has so far been met with a lackluster reception from investors. The price band for the Rs 4326-crore public issuance is between Rs 1,026 and Rs 1,080 per share. The deadline for this issue is Thursday, April 27.

Today is just the first day of the offer. Up to 3:30 p.m., individual investors were in the lead, subscribing up to 0.08x of the issue. This was followed by 0.18x from non-institutional investors (NIIs), while there was no subscription from qualified institutional buyers (QIBs).

According to the analysts, they are continuing to monitor the lackluster reaction from the NIIs and QIBs and are keeping their fingers crossed for positive development on the issue’s last trading day.

The price band for the public offer which is 4,326 crores has been fixed in the range of 1,026-1,080 rupees per share, and the closing date for the sale is on Thursday, April 27.

On Tuesday, shares of Mankind Pharma were trading at a premium of Rs 70 on the grey market. This suggested that the company’s shares would likely be listed at a price of Rs 1,150 a share on the upper price band. According to, the grey market premium (GMP) for Mankind Pharma has decreased by thirty percent over the course of the previous ten days, with the GMP reaching its highest point of one hundred rupees on April 14.

Given a slowing in primary markets and generally uncertain market circumstances, experts anticipate that the listing pop for Mankind Pharma will be influenced by primary market activity as well as subscription numbers on the very last day.

In the meanwhile, the majority of brokerages have assigned subscribe rating to the offer due to the fact that the company’s modest prices, comprehensive offer-for-sale (OFS) nature, and bulky size make it an appealing play in the main markets.

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