Mumbai: humanity The pharma stock, which saw muted retail interest but strong institutional demand, rallied 32% on its first day of trade and closed 23% at its IPO price. Native pharma companyRs 4,337 crore IPO is the biggest in India since supply chain firm Delhi Raised Rs 5,235 crore in May 2022.
The 32% jump was the biggest ever on the first day of trading in India zomato66% jump in July 2021. Market players said strong listings by the maker of Manforce condoms and Prega News pregnancy test kit could indicate companies that have received Sebi nod to launch their issues. Bloomberg data shows that over the past five years, listings larger than $500 million (roughly Rs. 4,100 crores) have declined by an average of 8.2%.
On Tuesday, the stock opened at Rs 1,300 against its IPO price of Rs 1,080 on BSE and closed at Rs 1,424 during the session. On NSE and BSE, over 3.4 crore Mankind shares traded during the day. With a market capitalization of Rs 57,046 crore, Mankind also entered the list of top 100 most valuable companies on BSE. Official data shows that it is ranked 86th by market cap, ahead of Torrent Pharmaceuticals and Zydus Lifesciences.
Hemang Jani of Motilal Oswal Financial Services said the IPO was launched after a long gap in the primary market and hence investor interest was high.
The 32% jump was the biggest ever on the first day of trading in India zomato66% jump in July 2021. Market players said strong listings by the maker of Manforce condoms and Prega News pregnancy test kit could indicate companies that have received Sebi nod to launch their issues. Bloomberg data shows that over the past five years, listings larger than $500 million (roughly Rs. 4,100 crores) have declined by an average of 8.2%.
On Tuesday, the stock opened at Rs 1,300 against its IPO price of Rs 1,080 on BSE and closed at Rs 1,424 during the session. On NSE and BSE, over 3.4 crore Mankind shares traded during the day. With a market capitalization of Rs 57,046 crore, Mankind also entered the list of top 100 most valuable companies on BSE. Official data shows that it is ranked 86th by market cap, ahead of Torrent Pharmaceuticals and Zydus Lifesciences.
Hemang Jani of Motilal Oswal Financial Services said the IPO was launched after a long gap in the primary market and hence investor interest was high.