Mankind Pharma logo is seen in this illustration taken, May 9, 2023. REUTERS/Dado Ruvic/Illustration


Shardul Amarchand Mangaldas & Co. has advised Indian pharmaceutical company Mankind Pharma on its 43.26-billion-rupees ($527 million) IPO on the Bombay Stock Exchange and National Stock Exchange, with Cyril Amarchand Mangaldas and Sidley Austin acting for the bookrunning lead managers.

Of the selling shareholders, AZB & Partners advised Cairnhill CIEPF and Cairnhill CGPE, while SAM represented Beige Limited and Link Investment Trust.

The IPO ranks as India’s biggest so far in 2023, and is also the largest among Indian pharma companies to go public since Gland Pharma in 2020, Reuters reported. Mankind Pharma makes at-home pregnancy testing kit Prega News, which has an 80 percent market share in the country, as well as Manforce condoms.

The SAM team advising the issuer was led by Prashant Gupta, national head of the firm’s capital markets practice, who was supported by partner Abhiroop Amitava Datta. Gupta also led the SAM team acting for Beige Limited and Link Investment Trust, assisted by partner Abhinav Maker.

The bookrunning lead managers were Kotak Mahindra Capital, Axis Capital, IIFL Securities, Jefferies India, and JP Morgan India. The Sidley team advising them was led by partner Manoj Bhargava.

Meanwhile, the AZB team was led by partners Darshika Kothari, Varoon Chandra, Agnik Bhattacharyya and Prerak Ved.


Related Articles

CAM, S&R act on Tata Technologies’ planned $366 mln IPO

by Mari Iwata |

Cravath, Swaine & Moore and Cyril Amarchand Mangaldas are advising India’s Tata Technologies on its planned 30.4-billion-rupee ($366 million) initial public offering, with Latham & Watkins and S&R Associates acting for the bookrunning lead managers JM Financial and Citigroup Global Markets India.

Wilson Sonsini, Davis Polk, Fangda, Jingtian on $470 mln WuXi XDC Hong Kong IPO

by Mari Iwata |

PRC law firm Fangda Partners and U.S. law firm Wilson Sonsini Goodrich & Rosati have advised Chinese medical research group WuXi XDC on its $470 million Hong Kong IPO, the third-largest new share sale in the city in 2023. Davis Polk & Wardwell and Jingtian & Gongcheng acted for the underwriters.

Skadden, Freshies lead on HK’s largest IPO in 2023

by Nimitt Dixit |

U.S. law firm Skadden, Arps, Slate, Meagher & Flom and PRC firm Jia Yuan Law Offices are advising Chinese home-appliance maker Midea Group on its planned $1 billion initial public offering, expected to be the first billion-dollar IPO in Hong Kong this year.