May 28, 2024

MANKIND PHARMA LIMITED’S INITIAL PUBLIC OFFERING TO OPEN ON TUESDAY, APRIL 25, 2023

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National, April 20th, 2023: Mankind Pharma Limited (the “Company”) proposes to open its initial public offering of 40,058,844 Equity Shares (“Offer”) on Tuesday, April 25, 2023. Bid/ Offer Closing Date will be Thursday, April 27, 2023. The Anchor Investor Bidding Date is one Working Day prior to Bid/Offer Opening Date, that is, April 24, 2023.

The Price Band of the Offer has been fixed from ₹ 1,026 per Equity Share to ₹ 1,080 per Equity Share. Bids can be made for a minimum of 13 Equity Shares and in multiples of 13 Equity Shares thereafter.

The Offer of 40,058,844 Equity Shares comprises an offer for sale of 3,705,443 Equity Shares by Ramesh Juneja;  3,505,149 Equity Shares by Rajeev Juneja; 2,804,119 Equity Shares by Sheetal Arora (collectively, the “Promoter Selling Shareholders”); 17,405,559 Equity Shares by Cairnhill CIPEF Limited; 2,623,863 Equity Shares by Cairnhill CGPE Limited; 9,964,711 Equity Shares by Beige Limited; and 50,000 Equity Shares by Link Investment Trust (collectively, the “Investor Selling Shareholders”, and together with the “Promoter Selling Shareholders”, the “Selling Shareholders”).

The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (the “SCRR”), read with Regulation 31 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (“SEBI ICDR Regulations”). The Offer is being made through the Book Building Process in accordance with Regulation 6(1) of the SEBI ICDR Regulations wherein not more than 50% of the Offer shall be available for allocation on a proportionate basis to QIBs (the “QIB Portion”), provided that the Company and the Selling Shareholders, in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors and the basis of such allocation will be on a discretionary basis by the Company and the Selling Shareholders, in consultation with the BRLMs, in accordance with the SEBI ICDR Regulations (the “Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors (“Anchor Investor Allocation Price”). Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds, subject to valid Bids being received at or above the Offer Price, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price.

Further, not less than 15% of the Offer shall be available for allocation to NIIs (“Non-Institutional Category”) of which one-third of the Non-Institutional Category shall be available for allocation to Bidders with an application size of more than ₹ 200,000 and up to ₹ 1,000,000 and two-thirds of the Non-Institutional Category shall be available for allocation to Bidders with an application size of more than ₹ 1,000,000 and under-subscription in either of these two sub-categories of Non-Institutional Category may be allocated to Bidders in the other sub-category of Non-Institutional Category in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. Further, not less than 35% of the Offer shall be available for allocation to RIIs (“Retail Category”), in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. All Bidders (except Anchor Investors) shall mandatorily participate in this Offer only through the Application Supported by Blocked Amount (“ASBA”) process and shall provide details of their respective bank account (including UPI ID  in case of UPI Bidders ) in which the Bid Amount will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or the Sponsor Bank(s), as the case may be. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process.

The Equity Shares offered through Red Herring Prospectus are proposed to be listed on both BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”, together with BSE, the “Stock Exchanges”).

Kotak Mahindra Capital Company Limited, Axis Capital Limited, IIFL Securities Limited, Jefferies India Private Limited, and J.P. Morgan India Private Limited are the Book Running Lead Managers to the Offer (“BRLMs”).

All capitalised terms used herein but not defined shall have the same meaning as ascribed to them in the red herring prospectus dated April 14, 2023 (“Red Herring Prospectus” or “RHP”).