Condom maker Mankind Pharma files documents for IPO

Condom maker Mankind Pharma files documents for IPO

Condom maker Mankind Pharma has filed its draft red herring prospectus (DRHP) with market regulator SEBI to raise funds through an initial public offering (IPO).

The IPO will involve an offer for sale (OFS) of more than 4 million shares by the company’s founders and existing shareholders. Therefore, the company will not receive any proceeds from the offer and all the money will be received by the selling shareholders.

The company manufactures a diverse range of pharmaceutical products in various acute and chronic therapeutic areas, as well as several consumer healthcare products.

Its wide range includes categories of condoms, pregnancy detection, emergency contraception, antacids, vitamin and mineral supplements and acne products.

Finance of some famous brands owned by the company Home sales % market share
Manforce (condom) ₹451 crore 30.2%
Prega News (pregnancy detection kit) ₹152 crore 80.1%
Unwanted-72 (emergency contraception) ₹90 crore 59.2%

It has 23 manufacturing facilities in Himachal Pradesh, Sikkim, Rajasthan, Andhra Pradesh, Maharashtra and Uttarakhand.

The company is also looking to acquire brands and diversify its therapeutic portfolio.

“Our goal is to deepen our presence in our existing markets and facilitate our entry into new markets. We intend to strategically acquire brands and companies across key markets as well as explore in-licensing and co-development opportunities with other companies to diversify our therapeutic portfolio,” the company said in its DRHP.

Its products are sold in 20 countries, including the US, Latin America, Southeast Asia, Africa, the Middle East and the Commonwealth of Independent States (CIS).

Mankind Pharma’s profitability has grown by 37% over the last three financial years.

SEE ALSO: Vedanta fell 9% after it clarified a semiconductor business owned by Volcan Investments

Cheetahs are making a comeback – this may improve the health of India’s shrinking grasslands

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

The Latest

To Top