Mankind Pharma set for stellar debut on Monday, Street sees 8-10% listing premium

Mankind Pharma’s shares are commanding a premium of Rs 100-113 to its issue price of Rs 1,080 in the grey market. Research analysts predict an 8-10% higher opening on the listing day. At Rs 1,080 a share, Mankind Pharma is valued at a price-to-earnings of 30 times its FY22 earnings, valuing the company at Rs 44,000 crore post-IPO. Although Mankind Pharma is the fourth-largest Indian pharmaceutical company in terms of domestic sales, investors are advised to book profits on listing day given the expensive valuations of the stock versus peers.