Shares of Mankind Pharma debut with over 20 percent premium
The company commanded a market valuation of Rs 54,816.52 crore.
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New Delhi: Shares of Mankind Pharma made a remarkable debut on the stock exchanges on Tuesday, listing with a premium of over 20 per cent against the issue price of Rs 1,080.
The stock began the trade at Rs 1,300, up 20.37 per cent on the BSE. It further zoomed 24.53 per cent to Rs 1,366.
At the NSE, shares of the company made its debut at Rs 1,300.
The company commanded a market valuation of Rs 54,816.52 crore.
The initial share sale of Mankind Pharma received 15.32 times subscription last month.
The company's IPO was entirely an Offer for Sale (OFS) of 4,00,58,844 equity shares by promoters and other existing shareholders.
Price range for the offer was at Rs 1,026-1,080 a share.
Read also: Mankind Pharma invests in Actimed Therapeutics for cancer cachexia treatment
Mankind Pharma was founded in 1991 by R.C. Juneja. Mankind has its headquarters in Okhla Phase III, Delhi, India. The company 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.
Read also: Mankind Pharma sets IPO price band of Rs 1,026 to Rs 1,080 per share
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