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Mankind Pharma's issue of 28.04 crore equity shares fetched bids for 42.95 crore equity shares. It means shares worth Rs 3,028.45 crore attracted bids worth Rs 46,387 crore.
At the close of day two of bidding, the issue of Mankind Pharma was overall subscribed 87 per cent, with strong bidding from QIB and NII investors, whose quota sailed through.
A majority of the brokerage firms are positive on the issue and suggest investors subscribe to the issue on a long-term basis but some analysts have raised red flags over rich valuations and the complete OFS nature.
The IPO of Mankind Pharma was off the mark on Tuesday but the issue saw a muted response from the investors during the initial two hours of the book-building process.
A majority of the brokerage firms are positive on the issue and suggest investors subscribe to the issue on a long-term basis, but some analysts have raised red flags over rich valuations and complete OFS nature.