Mankind Pharma IPO: Another big company name can be added to the IPO market. Mankind Pharma, the manufacturing giant of Manforce Condoms, is preparing to launch an IPO. ChrysCapital-backed Mankind Pharma, one of India’s largest non-listed pharmaceutical firms, is seeking a mega IPO in 2022. For this, the company is in preliminary talks with investment bankers.
Such investors can benefit
According to a news in Moneycontrol English, the best-selling condom brand Manforce Condom, Kalori 1 and Prega News manufacturer Mankind Pharma may bring a mega IPO this year. However, it is in the early stages where pitches are being prepared for the IPO. There is also news that the valuation of Mankind Pharma could potentially be between $8 billion and $10 billion. The purpose of listing of the company is to facilitate partial exit for investors who are looking for returns within a time frame.
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This company is financially strong
According to experts, it is a cash-rich firm and there is a possibility that the IPO may mainly involve offering of OFS or sale component by investors. Apart from Chris Capital, this company is backed by Capital International and GIC of Singapore. In 2015, Capital International bought an 11 per cent stake in Mankind Pharma from ChrysCapital for $200 million. In April 2018, the Chris Capital-led consortium made a surprise comeback and again bought a 10 percent stake for about $350 million.