Mankind Pharma IPO Listing HIGHLIGHTS: A stellar market debut for Manforce condom maker; shares finish listing day at 32% premium
Mankind Pharma IPO listing HIGHLIGHTS: Mankind Pharma (MANKIND) shares made a strong secondary market debut on Tuesday, May 9. The strong listing of the stock of Mankind Pharma, whose popular brands include Manforce and Prega News, was even better than what Zee Business Managing Editor Anil Singhvi had predicted. The debut comes after the companys IPO to raise up to Rs 4,326 crore concluded last month with a subscription of more than 15 times. Market wizard Anil Singhvi has a long-term buy call on Mankind Pharma. Catch minute-by-minute updates on the Mankind Pharma listing, the views of Zee Business Managing Editor Anil Singhvi and other experts, and much more here on Zeebiz.coms blog.
Mankind Pharma IPO listing HIGHLIGHTS: Mankind Pharma (MANKIND) shares made a blockbuster debut in the secondary market on Tuesday, May 9, with shares finishing the listing day at a premium of 32 per cent over the upper end of the IPO price band. The stock debuted on the bourses at Rs 1,300 apiece, a premium or about 20 per cent, before rising to as high as Rs 1,430 apiece during the session — even better than market wizard Anil Singhvi's expectations.
Mankind Pharma shares finished the listing day at the session's strongest level on NSE, at Rs 1,430 apiece — a premium of 32.4 per cent over the issue price. On BSE, the drug maker's stock settled at Rs 1,424.1 apiece — a premium of 31.9 per cent.
The listing of Mankind Pharma — whose popular products include Manforce condoms and Prega News pregnancy test kits — comes after its IPO, worth up to Rs 4,326 crore, concluded last month with a subscription of more than 15 times. Singhvi has a long-term 'buy' call on Mankind Pharma. "It is a stock worth having in the portfolio... Mankind Pharma's valuation is fairly attractive, not expensive at all," he said.
Catch minute-by-minute updates on the Mankind Pharma IPO listing, the views of Zee Business Managing Editor Anil Singhvi and other experts, and much more here on Zeebiz.com's blog:
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Mankind Pharma shares finish listing day at 32% premium over issue price
Mankind Pharma shares end at Rs 1,430 apiece on NSE — their strongest level of the day, marking a premium of Rs 350 or 32.4 per cent over the upper end of the IPO price range. On BSE, the drug maker's stock finish at Rs 1,424.1 apiece — a premium of Rs 344.1 or 31.9 per cent.
Here's how the stock moved through the day on BSE:
Image: BSE
Mankind Pharma shares hold on close to Rs 1,400 mark on bourses, set to finish listing day with more than 25% premium over issue price
Mankind Pharma shares are on track to finish the listing day with a hefty premium after a stellar start. The Mankind stock is up by Rs 317.6 or 29.4 per cent at Rs 1,397.6 apiece on BSE and up by Rs 313.4 or 29 per cent at Rs 1,393.4 apiece on NSE.On NSE, the newly-listed stock has moved within a range of Rs 124.5 so far on the listing day, touching Rs 1,424.5 apiece at the strongest level of the session.Image: ReutersMankind Pharma truly deserves credit for bringing back life into primary market: LKP Securities' S Ranganathan
S Ranganathan of LKP Securities points out that Mankind Pharma is a fast-growing, India-centric company.
"The icing on the cake was the allotment itself wherein almost all retail investors were allotted the shares," he says.
The Mankind Pharma IPO saw 92 per cent subscription in the portion reserved for retail investors.
Mankind Pharma shares surge from Rs 1,300 to Rs 1,400 in an hour
The spike in the stock of Mankind Pharma (MANKIND) — whose popular products include Manforce condoms and Prega News pregnancy test kits — came about immediately after its strong debut got investors, at least the ones looking to book listing gains, wondering whether to press the exit button already.
Market wizard Anil Singhvi says: "One has to see this company differently among drug makers operating in the country given the relatively lower levels of business uncertainties."
Mankind Pharma @ Rs 1,400/share: After stellar debut, Manforce condom maker's stock commands 30 per cent premium over IPO price
The newly-listed Mankind Pharma (MANKIND) stock touches exactly Rs 1,400 on NSE, and now BSE as well. This translates to a premium of 29.6 per cent over the upper end of its issue price.
When was the last time you saw a listing gain as rewarding as this one?
Mankind Pharma shares touch Rs 1,400 mark on NSE
Heard of Manforce, Prega News? Here are a few other Mankind Pharma brands you may recognise
- Gas-O-Fast
- Betakind Gargle
- Health OK Multivitamin Tablets
- Acnestar Gel
- Unwanted 72
- Ring-Out
- Kabz End
- Kaloree1
Mankind Pharma has a string of pharmaceutical, over-the-counter (OTC) and fast-moving consumer goods (FMCG) products in its portfolio.
Mankind Pharma has strong fundamentals, remain bullish for long term: Swastika Investmart's Santosh Meena
Santosh Meena of Swastika Investmart points out that Mankind Pharma is a well-known and established pharmaceutical company that offers pharmaceutical as well as consumer healthcare products.
"The company has strong fundamentals... Our recommendation for the IPO was to subscribe, and we maintain a bullish view on the stock, advising investors to hold it for the long term. Investors who applied for listing gains may either choose to exit or hold it with a stop loss at the issue price," Meena says.
Should you buy, sell or hold Mankind Shares?
Market wizard Anil Singhvi suggests those having won allotment in the Mankind Pharma IPO to hold on to the drug maker's shares.
He believes Mankind Pharma is a stock worth having in the portfolio.
Singhvi expects Mankind Pharma to emerge a game-changer in the IPO market.
Mankind Pharma shares soar past Rs 1,300 after stellar debut
Mankind Pharma shares far exceed market wizard Anil Singhvi's expectations, debuting at Rs 1,300 apiece on the bourses. However, the spike doesn't end there. Mankind shares climb to as high as Rs 1,333.8 on NSE within the first few minutes of trade.
Mankind Pharma IPO Listing | A stellar market debut for Manforce condom maker, shares list at 20% premium over issue price
Mankind Pharma (MANKIND) shares start their secondary market journey at Rs 1,300 apiece on BSE and NSE each — a premium of 20.4 per cent over the upper end of its issue price band.
Anil Singhvi says Mankind Pharma deserves a strong listing, recommends investors with winning bids to hold on to shares
Zee Business Managing Editor Anil Singhvi says Mankind Pharma deserves a strong listing, which may open the doors to strong IPOs going forward. "Every once a while, there come a few IPOs that prove to be game-changers in the market," the market wizard says.
Its valuation is attractive, "not expensive at all", he adds.
Mankind Pharma IPO | Anil Singhvi expects a strong listing
Here are five important details to know about the IPO:
- Market wizard Anil Singhvi believes Mankind Pharma's listing is going to be one of the strongest listings of the recent times.
- The issue was entirely an offer for sale (OFS) by promoters and existing shareholders, meaning the company did not receive any proceeds from it.
- Potential investors could bid for Mankind Pharma shares in a price band of Rs 1,026-1,080 under the IPO. That translated to
- a price of Rs 13,338-14,040 per lot.
- Investors were able to bid for shares in multiples of 13.
Mankind Pharma IPO saw subscription of more than 15 times with strong participation from institutional investors; retail portion booked 92%
Category Subscription (No. of times the shares reserved) Qualified institutional buyers (QIBs) 49.16 Non-institutional buyers (also known as high net worth individual investors) 3.8 Retail investors 0.92 Total 15.32 Mankind Pharma's IPO, which was open for subscription from April 25 to April 27, saw an overall subscription of 15.3 times the shares on offer with strong participation from qualified institutional investors. The retail portion, however failed to see a full subscription.
Anil Singhvi expects a strong debut, says retail investors likely to make listing gain
Zee Business Managing Editor Anil Singhvi expects Mankind Pharma (MANKIND) shares to debut on stock exchanges BSE and NSE around Rs 1,200, which translates to a premium of 11 per cent over the issue price.
The market wizard suggests investors to buy Mankind shares around levels of Rs 1,150, and believes it is a stock to keep in the portfolio from a long-term perspective.
"One has to see this company differently among drug makers operating in the country given the relatively lower levels of business uncertainties," he says.
Mankind Pharma listing at 10 am today; here's all you need to know about the pharma major
- New Delhi-based Mankind Pharma is the fourth largest drug maker in the country
- Mankind Pharma began its journey in 1995
- Mankind Pharma operates in 34 overseas destinations today
- Mankind Pharma has a 16,000-strong workforce
- Mankind Pharma is one of the country's major research-driven pharma making and marketing firms
- Mankind Pharma has a product portfolio spanning pharma, OTC and FMCG segments
- Mankind Pharma's popular products include Manforce condoms, Prega News pregnancy test kits and Unwanted 72 emergency contraceptive pills
Mankind Pharma IPO listing today: Macquarie initiates coverage on Manforce condom maker with 'outperform' rating, Rs 1,400 target price
Macquarie's target price for Mankind Pharma, whose stock is all set to make a secondary market debut on bourses BSE and NSE at 10 am, implies a potential upside of around 30 per cent from the issue price.
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