Mankind Pharma files for IPO, could be second largest among pharma firms

The offer for sale is expected to be anywhere between Rs 5000-5500 crore, say sources

The fourth largest pharmaceutical company in the domestic market, Mankind Pharma, filed its draft red herring prospectus (DRHP) papers with the Securities and Exchange Board of India (Sebi) on Friday to raise funds through initial public offering (IPO). Sources say that the company is looking to raise Rs 5000- 5500 crore, making it one of the largest pharma IPOs in recent years.

The IPO will comprise an offer for sale of 4 crore equity shares by the promoters and existing shareholders, the DRHP said.

The promoters include Ramesh Juneja, Rajeev Juneja, Sheetal Arora, Ramesh Juneja Family Trust, Rajeev Juneja Family