Drugmaker Mankind Pharma’s initial public offering will open for subscription on April 25, according to Red Herring. The three-day initial public offering (IPO) will end on April 27. Bidding for anchor investors will open on April 24 with the red herring prospectus (RHP).

The company’s IPO is fully an offer for sale (OFS) of 40,058,844 shares by the promoters and other existing shareholders.

Selling OFS shares are promoters Ramesh Juneja, Rajeev Juneja and Sheetal Arora. Cairnhill CIPEF, Cairnhill CGPE, Beige Limited and Link Investment Trust will also participate in OFS.

As the IPO is entirely OFS, the company will not receive any net proceeds from the offering, and all net proceeds will go to selling shareholders.

Mankind Pharma develops, manufactures and markets a wide range of pharmaceutical formulations covering various acute and chronic therapeutic areas and a wide range of consumer healthcare products.

Several differentiated brands have been established in the categories of condoms, pregnancy tests, emergency contraceptives, antacid powder, vitamin and mineral supplements, and acne preparations.

It has a pan-India marketing operation and operates 25 manufacturing plants nationwide.

As of December 2022, the company has a team of more than 600 scientists and a dedicated in-house R&D centre with four units in IMT Manesar, Gurugram (Haryana) and Thane (Maharashtra).

Kotak Mahindra Capital Company, Axis Capital, IIFL Securities, Jefferies India and JP Morgan India are the book-running managers. The equity is planned to be listed on BSE and NSE.