To acquire money through an initial public offering, Mankind Pharma has submitted its draft red herring prospectus (DRHP) papers to market regulator Securities and Exchange Board of India (SEBI).
The promoters and current shareholders of the company will offer for sale (OFS) 4 crore (40,058,844) equity shares as part of the IPO. Ramesh Juneja, Rajeev Juneja, Sheetal Arora, Ramesh Juneja Family Trust, Rajeev Juneja Family Trust, and Prem Sheetal Family Trust are the company’s promoters.
The IPO is anticipated to be worth around $5,500 crore, which would make it one of the largest public offerings by a domestic pharmaceutical company in history.
According to the DRHP, the firm will not get any of the offer’s proceeds and instead, all of them will be distributed to the selling shareholders in proportion to the equity shares they offered in the offer for sale.
