Mankind Pharma’s IPO and Stock Performance in 2024

Mankind Pharma Limited, one of the leading players in the Indian pharmaceutical industry, made headlines in 2023 with its Initial Public Offering (IPO). In this article, let’s check how the company has performed since its listing.

IPO Overview

Mankind Pharma’s IPO, which launched in April 2023, was highly anticipated due to the company’s strong market presence and its diverse portfolio of pharmaceutical products. The IPO was priced at ₹1,026 to ₹1,080 per share.

On Day 3 of the IPO subscription, April 27, 2023, the Mankind Pharma IPO was subscribed 15.32 times. The public issue was subscribed 0.92 times in the retail category, 3.80 times in the NII category and 49.16 times in the QIB category. The company raised approximately ₹43.3 billion through the IPO.

Listing Performance

On May 9, 2023, Mankind Pharma’s IPO was listed on the stock exchanges, i.e., NSE and BSE. On the listing day, the shares of Mankind Pharma opened ₹1,300.00, touching its day’s high at ₹1,430.00.

Post-Listing Performance

Following its listing, Mankind Pharma’s stock initially experienced a positive uptick, reflecting investor enthusiasm. However, as is common with many IPOs, the stock faced volatility in the early days. On May 22, 2023, the share price touched its all-time low at ₹1,242.00.

Despite this dip, the stock rebounded strongly. By June 21, 2023, Mankind Pharma’s shares had surged to a high of ₹1,768.00. The positive trajectory continued, and on April 23, 2024, the stock reached its all-time high of ₹2,490.00.

On August 21, 2024, the share price of Mankind Pharma Ltd opened at ₹2,356.00 on the NSE, showcasing a rise of ~81.2% from the listing price of ₹1,300.00 on May 9, 2023.

Financial Performance 

For the latest quarter, ending June 30, 2024, Mankind Pharma reported its financial results. The company achieved a revenue of ₹2,893 crore, representing a year-on-year growth of 12%. The company became the 2nd largest pharma company by volume with an increase in market share of 20 bps YoY to 6.1%.

Net profit for the quarter stood at ₹543 crore, up 9,9% compared to ₹494 crore in the same period in the previous year.

The company’s market share grew from 3.9% in FY 2018 to 4.4% in FY 2024. Over this period, the company has significantly expanded its brand portfolio, with 11 brands generating over ₹200 crore in revenue in FY 2024, up from 7 in FY 2020. Additionally, the number of brands contributing more than ₹100 crore in revenue increased to 23 in FY 2024, compared to 13 in FY 2020.

Conclusion

Since its IPO in April 2023, Mankind Pharma has shown notable achievements and fluctuations. The company’s stock experienced early volatility but achieved highs by April 2024. With strong revenue growth and a rising market share, Mankind Pharma has solidified its position in the pharmaceutical industry. The company’s ongoing performance will remain a focal point for investors and analysts.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.