Mankind Pharma shares list at premium of 20%. What should investors do now?

Its shares are currently trading nearly 6.7% higher at Rs 1,387. The IPO received a strong response, with the issue subscribed for 15.32 times, primarily driven by QIBs. However, retail investors did not show much interest. Following the listing, Macquarie initiated coverage on Mankind Pharma with an ‘outperform’ rating and target price of Rs 1,400 based on the company’s net profit potential, shift towards chronic therapies and unlocking of operating leverage.