Mankind ipo chittorgarh

One of India’s biggest unlisted pharmaceutical firms, ChrysCapital-backed Mankind Pharma, the maker of top selling condom brand Manforce Condoms, Kaloree 1 and Prega News, has initiated preliminary discussions with investment bankers to launch a mega IPO in 2022, multiple industry sources in the know told Moneycontrol. “Pitches were held for the proposed IPO of Mankind Pharma earlier this week. These are early days and the listing is aimed at facilitating a partial exit for its investors who are looking at returns within a time frame,” said one of the persons cited above. Other than ChrysCapital, the drugmaker is backed by the likes of Capital International and Singapore’s GIC. In 2015, Capital International had purchased an 11 percent stake in Mankind Pharma from ChrysCapital for $200 million. In April 2018, a ChrysCapital-led consortium, which included GIC and CPPPIB, made a stunning comeback and bought a 10 percent stake again for around $350 million. A second person said that the valuation of Mankind Pharma could potentially range between $8 billion and $10 billion. “It’s a cash-rich firm and it's likely that the IPO may chiefly consist of an OFS or offer for sale component by the investors." A third person confirmed the above valuation range and added that the fast-growing firm had reached the desired size and scale for a listing. He said the syndicate of i-bankers for the deal could be finalised in April. If one were to consider a minimum dilution of a 10 percent sta...

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