Is Mankind Pharma IPO worth a subscription? Here's what brokerages suggest

In the grey markets, shares of Mankind Pharma enjoyed a premium of Rs 90, which translated to a likely listing price of Rs 1,170 per share on the upper price band

The Rs 4,326-crore initial public offering (IPO) of Mankind Pharma will open for subscription from Tuesday, April 25. The price band is set in the range of Rs 1,026-1,080 per share. The offer-for-sale (OFS) portion consists of 40.1 million shares. 

Mankind Pharma is India's fourth largest pharma company in terms of domestic sales and third largest in terms of sales volume on a moving annual turnover (MAT) basis, as of December 2022. The company develops, manufactures, and markets a diverse range of acute-to-chronic therapies. Some of the well-known consumer healthcare products include Manforce, Prega News, Unwanted 72, Gas-o-Fast, Health OK,