Mankind Pharma believes that it can exploit the potential of Panacea's product portfolio to create a more comprehensive and diverse offering to its customers. The company acquired Panacea Biotec Pharma's formulations brands in February 2022. Rajeev Juneja, VC and MD of Mankind Pharma said this as the company's IPO subscription opened on Monday.
“The gross margins of Panacea are more than Mankind and once the manufacturing is shifted in our factories, the gross margins will improve further. Therefore, keeping everything in mind, this is a fantastic acquisition and it’s an organization whose products are not properly utilized,” he said in an interview to CNBC-TV18.
Talking about market performance, Juneja said that Mankind Pharma is doing well in both rural and metro markets. This is an excellent sign for the company as it shows that they have a broad customer base and are not overly reliant on any one market segment.
The company has already raised about Rs 1,300 crore from anchor investors and there is a 10 percent OFS of 4 crore shares. The issue size is huge, over Rs 4,110 crore. The total IPO is Rs 4,300 crore and opened today for subscription.
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