Recently rumours in the stock market are regarding the mutual fund’s strong interest in Mankind Pharma. Just after its IPO (Initial Public Offering) release and subsequent listing, it made itself off the top listed company trends in 2023. It is also even reported to be among the top-2 large-caps in stocks to receive maximum inflows of Rs. 1590 crore from Mutual funds in May.
Started in 1991 by Rajeev Juneja, it is one of the largest domestic formulators in India & the 4th largest Pharma Company in India. Being among the top additions of the 5 insurance houses, it made over 75% of life insurance AUMs in India. The valuations of the company from its release date is given below-
|IPO Date||Apr 25, 2023 to Apr 27, 2023|
|Listing Date||May 9, 2023|
|IPO Price||Rs. 1026-1080 per share|
|IPO Size||4326.36 Cr.|
|Listing Price||Rs. 1,300|
|Current Market Price||Rs. 1595.50|
The total investment mobilized by insurance companies to Mankind Pharma is around Rs. 1298 crore. Among 77 investors has received shares via anchor book. Now even after a month of its end, foreign investment companies are trying to grab the opportunity to invest in the pharmaceutical company.
However, what has driven to such massive gains? Here are some key points that can be quoted:-
- Strong player in the domestic market has increased its revenue to 98% in 2022. So, investors are more optimistic seeing the dueling growth, while most of the prominent shares are struggling.
- The focus on chronic segments making huge revenue (35% of domestic revenue) acquired the trust of the companies.
- Widespread network of the company also works as a reliable resource consisting over 11,500 MRs, which made it easily available in all tiers areas.
Overall, the surge in interest of Mankind Pharma shortly after the listing led to the company’s strong financial performance, promising growth, and strategic initiatives. The action reflects on the future potential that aligns with investment strategies.