Basis of Allotment

THIS IS A PUBLIC ANNOUNCEMENT FOR INFORMATION PURPOSES ONLY AND IS NOT APROSPECTUS ANNOUNCEMENT AND DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQUIRE, PURCHASE OR SUBSCRIBE TO SECURITIES. NOT FOR RELEASE, PUBLICATION OROR DISTRIBUTION DIRECTLY OR INDIRECTLY OUTSIDE INDIA. INITIAL PUBLIC OFFER OF EQUITY SHARES ON THE MAIN BOARD OF THE STOCK EXCHANGES IN COMPLIANCE WITH CHAPTER II OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) R3) REGULATIONS. 2018. AS AMENDED.

wpeF5.jpg (10051 bytes) MANKIND PHARMA LIMITED
Our Company was incorporated on July 3, 1991, as a private limited company under the Companies Act, 1956, with the name 'Mankind Pharma Private Limited', pursuant to a certificate of incorporation granted by the Registrar of Companies, Delhi and Haryana, at New Delhi ("RoC"). Pursuant to the conversion of our Company to a public limited company and as approved by our Shareholders pursuant to a special resolution dated July 14, 2005, the name of our Company was changed to "Mankind Pharma Limited' and the RoC issued a fresh certificate of incorporation on April 13,2006. For details of changes in our name and the Registered Office, see "History and Certain Corporate Matters - Brief history of our Company" and "History and Certain Corporate Matters - Changes in the Registered Office" on page 245 of the Prospectus of the Company dated April 28,2023 filed with the RoC ("Prospectus')
Registered Office: 208, Okhla Industrial Estate, Phase-Ill, New Delhi -110 020, Delhi, India; Tel: +91 11 4747 6600; Corporate Office: 262, Okhla Industrial Estate, Phase-Ill, New Delhi -110 020, Delhi, India; Tel: +91 11 4684 6700
Contact Person: Pradeep Chugh, Company Secretary and Compliance Officer; Tel: +91 11 4684 6729; E-mail: investors@mankindpharma.com; Website: www.mankindpharma.com; Corporate Identity Number: U74899DL1991PLC044843
OUR PROMOTERS: RAMESH JUNEJA, RAJEEV JUNEJA, SHEETAL ARORA, RAMESH JUNEJA FAMILY TRUST, RAJEEV JUNEJA FAMILY TRUST AND PREM SHEETAL FAMILY TRUST

Our Company has filed the Prospectus dated April 28, 2023 with the RoC and the Equity Shares are proposed to be listed on the Main Board of the National Stock Exchange of India Limited ("NSE") and the BSE Limited ("BSE") and the trading will commence on May 9, 2023.

BASIS OF ALLOTMENT

INITIAL PUBLIC OFFERING OF 40.058.844 EQUITY SHARES OF FACE VALUE OF Rs. 1 EACH ("EQUITYSHARES’ )OF MANKIND PHARMA LIMITED ("OUR COMPANY" OR THE "ISSUER ) FOR CASH AT A PRICE OF Rs. 1,080 PER EQUITY SHARE (‘ OFFER PRICE") AGGREGATING TO Rs. 43,263.55 MILLION. COMPRISING AN OFFER FOR SALE OF 3,705.443 EQUITY SHARES AGGREGATING TO Rs. 4,001.88 MILLION BY RAMESH JUNEJA, 3,505,149 EQUITY SHARES AGGREGATING TO Rs. 3,785.56 MILLION BY RAJEEV JUNEJA, 2,804,119 EQUITY SHARES AGGREGATING TO Rs. 3,028.45 MILLION BY SHEETAL ARORA (COLLECTIVELY. THE "PROMOTER SELLING SHAREHOLDERS"), 17.405.559 EQUITY SHARES AGGREGATING TO Rs. 18,798.00 MILLION BY CAIRNHILL CIPEF LIMITED, 2,623,863 EQUITY SHARES AGGREGATING TO Rs. 2,833.77 MILLION BY CAIRNHILL CGPE LIMITED, 9,964,711 EQUITY SHARES AGGREGATING TO Rs. 10,761.89 MILLION BY BEIGE LIMITED AND 50,000 EQUITY SHARES AGGREGATING TO Rs. 54 00 MILLION BY LINK INVESTMENT TRUST (COLLECTIVELY, THE ‘ INVESTOR SELLING SHAREHOLDERS’) (THE "PROMOTER SELLING SHAREHOLDERS" AND THE "INVESTOR SELLING SHAREHOLDERS". TOGETHER, THE SELLING SHAREHOLDERS") (THE OFFER FOR SALE" OR THE "OFFER"). THE OFFER SHALL CONSTITUTE 10% OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.

ANCHOR INVESTOR OFFER PRICE: Rs. 1,080 PER EQUITY SHARE OF FACE VALUE OF Rs. 1 EACH OFFER PRICE: Rs. 1,080 PER EQUITY SHARE OF FACE VALUE OF Rs. 1 EACH THE OFFER PRICE IS 1080 TIMES OF THE FACE VALUE OF THE EQUITY SHARES
RISKS TO INVESTORS

1. Dependence on Third Party Manufacturers: We depend on third-party manufacturers for some of our finished formulations and approximately 25% of our total revenues were from products manufactured through third-party manufacturing arrangements for the past three financial years and nine months ended December 31,2021 and December 31,2022.

2. Concentration Risk: As of December 31, 2022,18 of our 25 manufacturing facilities were located in Himachal Pradesh. We have two API manufacturing facilities located in Andhra Pradesh and Rajasthan, which are operated through our subsidiaries, JPR Labs Private Limited and Shree Jee Laboratory Private Limited.

3. Raw Material Import Risk: We depend on third-party suppliers for supply of certain raw materials and approximately 9% of our raw materials were directly imported during the nine months ended December 31,2022, of which approximately 6% was directly imported from China.

4. Financial Risk: Our EBITDA margin, PAT margin and Return on Capital Employed (not annualized) has decreased from 28.30%, 20.81%, 25.08% during the nine months ended December 31, 2021, respectively, to 22.30%, 15.17% and 16.58% during the nine months ended December31, 2022, respectively.

5. Dependence on Domestic Market: We are heavily focused on the Indian market and approximately 97% of our revenue from operations is from India for the past three Financial Years and nine months ended December 31, 2021 and December 31, 2022. Significant portion of our domestic sales is from certain therapeutic areas, such as anti- infectives, cardiovascular and gastrointestinal.

6. Regulatory Risk: We operate in a highly regulated industry and our operations include development, testing and research, which may lead to restrictions on marketing practices, compliance with product quality standards, manufacturing processes stipulated by regulators and price controls as levied on certain products by government.

7. Weighted average cost of acquisition of all Equity Shares transacted in past one year and from one year to past three years preceding the date of the Prospectus:

Period Weighted average cost of acquisition per Equity Share (in Rs.) Offer Price is 1,080 times the weighted average cost of acquisition Range of acquisition price: Lowest Price - Highest Price (in Rs.)
Past 1 year 977.18* 1.11 977.18#
From 1 year to Past 3 years NIL NIL NIL
BID/ OFFER PROGRAMME
ANCHOR INVESTOR BIDDING DATE OPENED AND CLOSED ON: MONDAY, APRIL 24, 2023
BID/OFFER OPENED ON: TUESDAY, APRIL 25, 2023
BID/OFFER CLOSED ON: THURSDAY, APRIL 27, 2023

The Offer was made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (the "SCRR"). read with Regulation 31 of the SEBI ICDR Regulations. The Offer was made through the Book Building Process in accordance with Regulation 6(1) of the SEBI ICDR Regulations wherein not more than 50% of the Offer was made available for allocation on a proportionate basis to QIBs (the "QIB Portion"). Our Company and the Selling Shareholders, in consultation with the BRLMs, allocated up to 60% of the QIB Portion to Anchor Investors on a discretionary basis, in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended ("SEBI ICDR Regulations") (the "Anchor Investor Portion"), of which one-third was reserved for domestic Mutual Funds, subject to valid Bids having been received from the domestic Mutual Funds at or above the price at which allocation was made to Anchor Investors ("Anchor Investor Allocation Price"). Further, 5% of the Net QIB Portion was made available for allocation on a proportionate basis only to Mutual Funds, subject to valid Bids having been received at or above the Offer Price, and the remainder of the Net QIB Portion was made available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids having been received at or above the Offer Price. Further, not less than 15% of the Offer was made available for allocation to Nils ("Non-Institutional Category") of which one-third of the Non-Institutional Category was made available for allocation to Bidders with an application size of more than Rs. 200,000 and up to Rs. 1,000,000 and two-thirds of the Non-Institutional Category was made available for allocation to Bidders with an application size of more than Rs. 1,000,000 and under-subscription in either of these two sub-categories of Non-Institutional Category were allocated to Bidders in the other sub-category of Non-Institutional Category in accordance with the SEBI ICDR Regulations, subject to valid Bids having been received at or above the Offer Price. Further, not less than 35% of the Offer was made available for allocation to Rlls ("Retail Category"), in accordance with the SEBI ICDR Regulations, subject to valid Bids having been received from them at or above the Offer Price. All Bidders (except Anchor Investors) were required to mandatorily participate in this Offer only through the Application Supported by Blocked Amount "ASBA") process and were required to provide details of their respective bank account (including UPI ID (defined hereinafter) in case of UPI Bidders (defined hereinafter)) in which the Bid Amount was blocked by the Self Certified Syndicate Banks ("SCSBs") or the Sponsor Bank(s), as the case may be. Anchor Investors were not permitted to participate in the Anchor Investor Portion through the AS BA process. For details, see "Offer Procedure" beginning on page 527 of the Prospectus.

The bidding for Anchor investors opened and closed on Monday. April 24.2023. The Company received 77 applications from 51 Anchor Investors for 12.214.397 Equity Shares. The Anchor Investor Offer Price was finalized at Rs. 1,080 per Equity Share. A total of 12.017,652 Equity Shares were allocated under the Anchor Investor Portion aggregating to Rs. 12,979.064,160.

The Offer received 419,252 applications for 441.831.702 Equity Shares (prior to technical rejections) resulting in 11.0296 times subscription as disclosed in the Prospectus. The details of the applications received in the Offer from various categories are as under (before technical rejections):

SI No. Category No. of Applications received No. of Equity Shares applied No. of Equity Shares reserved as per Prospectus No. of times Subscribed Amount (Rs.)
A Retail Individual Investors 391.436 12,952,927 14,020,596 0.9238 13,988.201.175
B Non Institutional Investors - More than Rs.2 Lakhs upto Rs.10 Lakhs 11.956 2.897,115 2,002,942 1.4464 3,127,576,543
C Non Institutional Investors - Above Rs.10 Lakhs 15,556 18,910,554 4,005,885 4.7207 20,423,081,016
D Qualified Institutional Bidders (excluding Anchor Investors) 227 394,856,709 8,011,769 49.2846 426.445.245.720
E Anchor Investors 77 12,214,397 12,017,652 1.0164 13,191.548.760
Total 419,252 441,831,702 40,058,844 11.0296 477,175,653,214

Final Demand

A summary of the final demand as per BSE and NSE as on the Bid/Offer Closing Date as at different Bid prices is as under:

Sr. No Bid Price No. of Equity Shares % to Total Cumulative Total Cumulative % of Total
1 1.026 113,906 0.03 113,906 0.03
2 1,027 7,891 0.00 121,797 0.03
3 1,028 2.548 0.00 124.345 0.03
4 1.029 1,300 0.00 125,645 0.03
5 1,030 24,570 0.01 150,215 0.03
6 1,031 2.158 0.00 152,373 0.04
7 1,032 936 0.00 153,309 0.04
8 1,033 364 0.00 153,673 0.04
9 1,034 312 0.00 153.985 0.04
10 1,035 3,120 0.00 157,105 0.04
11 1,036 494 0.00 157,599 0.04
12 1,037 260 0.00 157.859 0.04
13 1,038 234 0.00 158,093 0.04
14 1,039 247 0.00 158,340 0.04
15 1,040 10.257 0.00 168.597 0.04
16 1,041 208 0.00 168,805 0.04
17 1,042 364 0.00 169,169 0.04
18 1,043 117 0.00 169,286 0.04
19 1,044 754 0.00 170,040 0.04

*Cairnhill CIPEF Limited and Caimhill CGPE Limited have transferred total 16,023,538 Equity Shares at price of Rs. 977.18 per Equity Share on April 6, 2023 to Hema CIPEF (I) Limited and Hema CGPE (!) Limited which at the time of entering into the share purchase agreement dated March 31, 2023 were affiliates ofCairnhill CIPEF Limited and Cairnhill CGPE Limited.

'Excluding transfer by way of gift as no consideration was paid.

8. Weighted average cost of acquisition ("WACA") compared to Offer Price:

Past transactions WACA per Equity Share (in Rs.) Offer Price (i.e.Rs. 1,080)
WACAfor primary /secondary issue during 18 months and WACA of primary issuance during 3 years prior to Prospectus, exceeding 5% of the pre-issue capital NA NA
WACA of secondary transactions during 3 years prior to Prospectus, not exceeding 5% of the pre-issue capital 977.18 1.11 times

9. The five Book Running Lead Managers associated with the Offer have handled 84 public offers in the past three Financial Years, out of which 29 offers closed below the IPO price on the listing date.

Name of the BRLMs Total public issues Issues closed below IPO price on listing date
Kotak Mahindra Capital Company Limited* 17 2
Axis Capital Limited* 19 8
IIFL Securities Limited* 23 7
Jefferies India Private Limited* 0 0
J. P. Morgan India Private Limited* 0 0
Common issues of above BRLMs 25 12
Total 84 29

*lssues handled where there were no common BRLMs

Sr. No Bid Price No. of Equity Shares % to Total Cumulative Total Cumulative % of Total
20 1,045 1,807 0.00 171,847 0.04
21 1,046 260 0.00 172,107 0.04
22 1.047 130 0.00 172,237 0.04
23 1.048 728 0.00 172,965 0.04
24 1,049 351 0.00 173,316 0.04
25 1,050 39,286 0.01 212,602 0.05
26 1.051 1,573 0.00 214,175 0.05
27 1,052 598 0.00 214,773 0.05
28 1,053 1,378 0.00 216,151 0.05
29 1.054 234 0.00 216,385 0.05
30 1.055 1,443 0.00 217,828 0.05
31 1.056 377 0.00 218,205 0.05
32 1,057 117 0.00 218,322 0.05
33 1.058 91 0.00 218,413 0.05
34 1,059 78 0.00 218,491 0.05
35 1,060 10,855 0.00 229,346 0.05
36 1.061 364 0.00 229,710 0.05
37 1.062 195 0.00 229,905 0.05
38 1.063 143 0.00 230,048 0.05
39 1,064 143 0.00 230,191 0.05
40 1.065 1,690 0.00 231,881 0.05
41 1.066 78 0.00 231,959 0.05
42 1,067 52 0.00 232,011 0.05
43 1,068 78 0.00 232,089 0.05
44 1.069 156 0.00 232,245 0.05
45 1.070 8,320 0.00 240,565 0.06
46 1,071 455 0.00 241,020 0.06
47 1,072 182 0.00 241,202 0.06
48 1.073 143 0.00 241,345 0.06
49 1.074 52 0.00 241,397 0.06
50 1,075 3,978 0.00 245,375 0.06
51 1.076 442 0.00 245.817 0.06
52 1.077 390 0.00 246,207 0.06
53 1,078 2,587 0.00 248,794 0.06
54 1,079 4,654 0.00 253,448 0.06
55 1.080 420,272,892 96.84 420,526,340 96.90
CUTOFF 13,472,836 3.10 433.999,176 100.00
TOTAL 433,999,176 100.00

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being the NSE on Wednesday, May 3,2023.

A. Allotment to Retail Individual Investors (after technical rejections) (including ASBA Applications)

The Basis of Allotment to the Retail Individual Investors, who have bid at the Cut-Off Price or at the Offer Price of Rs. 1,080 per Equity Share, was finalized in consultation with the NSE. This category has been subscribed to the extent of 0.8943 times. The total number of Equity Shares Allotted in Retail Portion is 12,538,500 Equity Shares to 375.879 successful Retail Individual Investors. The category-wise details of the Basis of Allotment are as under:

Sr. No. Category No. of Applications Received % of Total Total No. of Equity Shares applied % to Total No. of Equity Shares Allotted per Bidder Ratio Total No. of Equity Shares allotted
1 13 297,143 79.05 3,862,859 30.81 13 1 : 1 3,862,859
2 26 21,176 5.63 550,576 4.39 26 1 : 1 550,576
3 39 6,405 1.70 249,795 1.99 39 1 : 1 249.795
4 52 4,374 1.16 227,448 1.81 52 1 : 1 227,448
5 65 2,665 0.71 173,225 1.38 65 1 : 1 173,225
6 78 901 0.24 70,278 0.56 78 1 : 1 70,278
7 91 2,295 0.61 208,845 1.67 91 1 : 1 208.845
8 104 1,358 0.36 141,232 1.13 104 1 : 1 141,232
9 117 551 0.15 64,467 0.51 117 1 : 1 64,467
10 130 1,556 0.41 202,280 1.61 130 1 : 1 202.280
11 143 374 0.10 53,482 0.43 143 1 : 1 53,482
12 156 311 0.08 48,516 0.39 156 1 : 1 48,516
13 169 511 0.14 86,359 0.69 169 1 : 1 86,359
14 182 36,259 9.65 6,599,138 52.63 182 1 : 1 6.599,138
TOTAL 375,879 100.00 12,538,500 100.00 12,538,500

The unsubscribed portion of 1.482.096 Equity Shares spilled over to QIB Category and NIB category In the ratio of 50:15.

B. Allotment to Non-Institutional Investors (more than Rs. 2 lakhs and upto Rs.10 lakhs) (After Technical Rejections) (including ASBA Applications)

The Basis of Allotment to the Non-Institutional Investors (more than Rs. 2 lakhs and upto Rs. 10 lakhs), who have bid at the Offer Price of Rs. 1,080 per Equity Share or above, was finalized in consultation with the NSE. This category has been subscribed to the extent of 1.3413 times (including spillover from Retail Individual Investors category). The total number of Equity Shares allotted in this category is 2,116.950 Equity Shares (including spillover of 114.008 Equity Shares from Retail Individual Investors category) to 10.856 successful Non- Institutional Investors (more than Rs. 2 lakhs and upto Rs. 10 lakhs). The category-wise details of the Basis of Allotment are as under:

Sr. No. Category No. of Applications Received % of Total Total No. of Equity Shares applied % toTotal No. of Equity Shares allotted per applicant Ratio Total No. of Equity Shares allotted
1 195 10498 89.61 2.047.110 72.09 195 101: 109 1,896,960
2 208 84 0.72 17.472 0.62 195 39:42 15.210
3 221 14 0.12 3,094 0.11 195 13: 14 2,535
4 234 31 0.26 7,254 0.26 195 29:31 5,655
5 247 7 0.06 1,729 0.06 195 6 : 7 1,170
6 260 51 0.44 13.260 0.47 195 47 : 51 9,165
7 273 22 0.19 6.006 0.21 195 10:11 3,900
8 286 15 0.13 4.290 0.15 195 14: 15 2,730
9 299 13 0.11 3,887 0.14 195 12 : 13 2,340
10 312 10 0.09 3.120 0.11 195 9:10 1,755
11 325 17 0.15 5.525 0.19 195 16:17 3,120
12 338 2 0.02 676 0.02 195 1 : 1 390
13 351 4 0.03 1.404 0.05 195 1 : 1 780
14 364 11 0.09 4,004 0.14 195 10: 11 1,950
15 377 12 0.10 4,524 0.16 195 11 :12 2,145
16 390 50 0.43 19.500 0.69 195 23:25 8,970
17 403 8 0.07 3.224 0.11 195 7:8 1,365
18 416 7 0.06 2,912 0.10 195 6 : 7 1,170
19 429 7 0.06 3,003 0.11 195 6 : 7 1,170
20 442 7 0.06 3,094 0.11 195 6 : 7 1,170
21 455 103 0.88 46,865 1.65 195 95:103 18,525
22 468 29 0.25 13.572 0.48 195 27:29 5,265
23 481 3 0.03 1.443 0.05 195 1 : 1 585
24 494 6 0.05 2,964 0.10 195 1 : 1 1,170
25 507 6 0.05 3,042 0.11 195 1 : 1 1,170
26 520 17 0.15 8,840 0.31 195 16:17 3,120
27 533 3 0.03 1.599 0.06 195 1 : 1 585
28 546 3 0.03 1,638 0.06 195 1 : 1 585
29 559 3 0.03 1,677 0.06 195 1 : 1 585
30 572 4 0.03 2,288 0.08 195 1 : 1 780
31 585 7 0.06 4,095 0.14 195 6 : 7 1,170
32 598 1 0.01 598 0.02 195 1 : 1 195
33 611 4 0.03 2,444 0.09 195 1 : 1 780
34 624 2 0.02 1,248 0.04 195 1 : 1 390
35 637 2 0.02 1,274 0.04 195 1 : 1 390
36 650 14 0.12 9,100 0.32 195 13: 14 2,535
37 676 2 0.02 1,352 0.05 195 1 : 1 390
38 689 2 0.02 1,378 0.05 195 1 : 1 390
39 702 1 0.01 702 0.02 195 1 : 1 195
40 715 2 0.02 1,430 0.05 195 1 : 1 390
41 728 8 0.07 5,824 0.21 195 7 : 8 1,365
42 741 4 0.03 2,964 0.10 195 1 : 1 780
43 754 1 0.01 754 0.03 195 1 : 1 195
44 780 7 0.06 5,460 0.19 195 6 : 7 1,170
45 806 3 0.03 2,418 0.09 195 1 : 1 585
46 832 3 0.03 2,496 0.09 195 1 : 1 585
47 845 3 0.03 2,535 0.09 195 1 : 1 585
48 858 4 0.03 3,432 0.12 195 1 : 1 780
49 871 6 0.05 5,226 0.18 195 5 : 6 975
50 884 3 0.03 2,652 0.09 195 1 : 1 585
51 897 1 0.01 897 0.03 195 1 : 1 195
52 910 42 0.36 38220 1.35 195 39: 42 7,605
53 923 546 4.66 503,958 17.75 195 101: 109 98,670
1 1 : 5 30
TOTAL 11,715 100.00 2,839,473 100.00 2,116,950

Includes spillover of 114,008 Equity Shares from Retail Individual Investors category.

Please Note: 1 additional Share shall be allotted to 30 Allottees from amongst 1,128 Successful Applicants from the categories 208-923 (i.e. excluding successful applicants from Category 195) in the ratio of 5:188.

C. Allotment to Non-Institutional Investors (more than Rs. 10 lakhs) (After Technical Rejections) (including ASBA Applications)

The Basis of Allotment to the Non-Institutional Investors (more than Rs. 10 lakhs), who have bid at the Offer Price of Rs. 1,080 per Equity Share or above, was finalized in consultation with the NSE. This category has been subscribed to the extent of 4.4270 times (including spillover from Retail Individual Investors category). The total number of Equity Shares Allotted in this category is 4,233,900 Equity Shares (including spillover of 228,015 Equity Shares from Retail Individual Investors category) to 15,388 successful Non- Institutional Investors (more than Rs. 10 lakhs). The category- wise details of the Basis of Allotment are as under: (Sample)

Sr. No. Category No. of Applications Received % of Total Total No. of Equity Shares applied % to Total No. of Equity Shares allotted per applicant Ratio Total No. of Equity Shares allotted
1 936 14,951 97.16 13,994,136 74.66 253 1 : 1 3,782,603
1 17: 353 720
2 949 11 0.07 10,439 0.06 254 1 : 1 2,794
3 962 18 0.12 17,316 0.09 255 1 : 1 4,590
4 975 38 0.25 37,050 0.20 256 1 : 1 9,728
5 988 8 0.05 7,904 0.04 257 1 : 1 2,056
6 1,001 13 0.08 13,013 0.07 258 1 :1 3,354
7 1,014 5 0.03 5,070 0.03 259 1 : 1 1,295
8 1,027 2 0.01 2,054 0.01 260 1 :1 520
9 1,040 11 0.07 11,440 0.06 261 1 : 1 2,871

 

Sr. No. Category No. of Applications Received % of Total Total No. of Equity Shares applied % to Total No. of Equity Shares allotted per applicant Ratio Total No. of Equity Shares allotted
10 1.053 1 0.01 1,053 0.01 262 1 :1 262
11 1.066 1 0.01 1,066 0.01 263 1 :1 263
12 1,105 3 0.02 3,315 0.02 266 1 :1 798
13 1,170 2 0.01 2,340 0.01 272 1 :1 544
14 1,196 3 0.02 3,588 0.02 273 1 :1 819
15 1,248 1 0.01 1,248 0.01 277 1 :1 277
16 1,261 1 0.01 1,261 0.01 279 1 :1 279
17 1,300 9 0.06 11,700 0.06 282 1 :1 2,538
18 1,846 16 0.10 29,536 0.16 324 1 :1 5,184
19 1,859 1 0.01 1,859 0.01 325 1 :1 325
20 1,872 2 0.01 3,744 0.02 327 1 :1 654
21 1,950 6 0.04 11,700 0.06 333 1 :1 1,998
22 1,989 1 0.01 1,989 0.01 336 1 :1 336
23 2,015 1 0.01 2,015 0.01 338 1 :1 338
24 2,028 1 0.01 2,028 0.01 339 1 :1 339
25 2,145 1 0.01 2,145 0.01 348 1 :1 348
26 2,184 1 0.01 2,184 0.01 351 1 :1 351
27 36,569 1 0.01 36,569 0.20 3,044 1 :1 3,044
28 36,725 1 0.01 36,725 0.20 3,057 1 :1 3,057
29 37,024 1 0.01 37,024 0.20 3,080 1 :1 3,080
30 37,037 1 0.01 37,037 0.20 3,081 1 :1 3,081
31 37,050 2 0.01 74,100 0.40 3,082 1 :1 6,164
32 40,248 1 0.01 40,248 0.21 3,333 1 :1 3,333
33 46,280 1 0.01 46,280 0.25 3,805 1 :1 3,805
34 52,000 2 0.01 104,000 0.55 4,254 1 :1 8,508
35 52,546 1 0.01 52,546 0.28 4,296 1 :1 4,296
36 54,600 1 0.01 54,600 0.29 4,457 1 :1 4,457
37 55,549 1 0.01 55,549 0.30 4,531 1 :1 4,531
38 74,022 1 0.01 74,022 0.39 5,978 1 :1 5,978
39 74,074 1 0.01 74,074 0.40 5,983 1 :1 5,983
40 75,400 1 0.01 75,400 0.40 6,086 1 :1 6,086
41 83.330 1 0.01 83.330 0.44 6.708 1 :1 6,708
42 115.700 1 0.01 115.700 0.62 9.243 1 :1 9.243
43 138.879 1 0.01 138,879 0.74 11.059 1 :1 11.059
44 185.185 1 0.01 185,185 0.99 14,687 1 :1 14,687
45 231,478 1 0.01 231.478 1.23 18,313 1 :1 18,313
46 256.191 1 0.01 256.191 1.37 20,249 1 :1 20,249
47 329.069 1 0.01 329.069 1.76 25.958 1 :1 25.958
48 462.956 1 0.01 462,956 2.47 36,447 1 :1 36,447
Total 15,388 100.00 18,743,283 100.00 4,233,900

Includes spillover of 228.015 Equity Shares from Retail category

Please Note: 1 additional Share has been allotted to Category 936 in the ratio of 17:353.

D. Allotment to QIBs (After Technical Rejections)

Allotment to QIBs, who have Bid at the Offer Price of ? 1.080 per Equity Share or above, has been done on a proportionate basis in consultation with the NSE. This category has been subscribed to the extent of 43.1451 times of NetQIB Portion (including spillover from Retail Individual Investors category). As per the SEBIICDR Regulations, Mutual Funds were allotted 5% of the Equity Shares of Net QIB Portion available i.e., 457,593 Equity Shares (including spillover of 57,004 Equity Shares from Retail Individual Investors category) and other QIBs and unsatisfied demand of Mutual Funds were allotted the remaining available Equity Shares i.e . 8.694,249 Equity Shares (including spillover of 1,083,069 Equity Shares from Retail Individual Investors category) on a proportionate basis. The total number of Equity Shares allotted in the Net QIB Portion is 9.151,842 Equity Shares (including spilled over of 1,140,073 Equity Shares from Retail Individual Investors category), which were allotted to 227 successful QIB Bidders. The category-wise details of the Basis of Allotment are as under:

CATEGORY FIS/BANK’S MF’s IC’s NBFC's AIF FII/FPC VC’s OTHERS TOTAL
QIB 986,827 2,609,367 568,035 28,576 - 4,616,814 - 342,223 9,151,842

Includes spilled over of 1.140,073 Equity Shares from Retail Individual Investors Category.

E. Allotment to Anchor Investors

The Company and the Selling Shareholders, in consultation with the BRLMs. have allocated 12.017.652 Equity Shares to 51 Anchor Investors (through 77 Anchor Investor Application Forms) (including 16 domestic Mutual Funds through 41 schemes) at the Anchor Investor Offer Price of Rs. 1.080 per Equity Share in accordance with the SEBI ICDR Regulations. This represents 60% of the QIB Portion.

Category FI’S/BANK's MF's IC’s NBFC's AIF FII/FPC OTHERS Total
Anchor - 4,725,406 1,458.093 - - 5,834,153 - 12,017,652

The IPO Committee of our Company at its meeting held on May 4, 2023 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being NSE and has allotted the Equity Shares to various successful applicants. The Allotment Advice-cum- Unblocking Intimations and/ or notices have been dispatched to the address of the investors as registered with the depositories. Further, the instructions to the Self Certified Syndicate Banks for unblocking of funds, transfer to Public Offer Account have been issued on May 3, 2023 and payment to non-Syndicate brokers have been issued on May 4, 2023. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares allotted to the successful Allottees have been uploaded on May 4, 2023 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed the Listing application with NSE and BSE on May 4, 2023. The Company has received listing and trading approval from NSE and BSE and the trading will commence on May 9, 2023.

Note: All capitalised terms used and not specifically defined herein shall have the same meaning as ascribed to them in the Prospectus.

INVESTORS PLEASE NOTE

The details of the allotment made will be hosted on the website of the Registrar to the Offer. KFin Technologies Limited at www.kfintech.com All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the First/ sole Bidder, Bid cum Application Form number. Bidder DP ID. Client ID. PAN. date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares applied for, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and a copy of the Acknowledgment Slip received from the Designated Intermediary at the address given below:

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KFin Technologies Limited
Selenium, Tower B, Plot No. 31 and 32 Financial District, Nanakramguda,
Serilingampally, Hyderabad. Rangareddi - 500 032. Telangana. India
Tel: +91 40 6716 2222
E-mail: mankind.ipo@kfintech.com
Website: www.kfintech.com
Investor Grievance E-mail: einward.ns@kfintech.com
Contact Person: M Murali Krishna
SEBI Registration No: INR000000221
For MANKIND PHARMA LIMITED
Sd /-
Company Secretary and Compliance Officer
Place: New Delhi On behalf of the Board of Directors
Date: May 8, 2023 Pradeep Chugh

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF MANKIND PHARMA LIMITED.

MANKIND PHARMA LIMITED (the "Company") has filed the Prospectus dated April 28,2023. The Prospectus is available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges i.e. BSE and NSE at www.bseindia.com and www.nseindia.com, respectively, and is available on the websites of the BRLMs, i.e. Kotak Mahindra Capital Company Limited, Axis Capital Limited, IIFL Securities Limited, Jefferies India Private Limited and J.P. Morgan India Private Limited at https://investmentbank.kotak.com, www.axiscapital.co.in, www.iiflcap.com,www.jefferies.com and www.jpmipl.com, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, please see the section titled "Risk Factors "on page 44 of the Prospectus. The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") and. unless so registered, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to. the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. Accordingly, the Equity Shares are being offered and sold (i) in the United States only to persons that are reasonably believed to be "qualified institutional buyers" (as defined in Rule 144A) pursuant to Section 4(a) of the U.S. Securities Act, and (ii) outside the United States in "offshore transactions" as defined in and in compliance with Regulation S and the applicable laws of the jurisdiction where those offers and sales occur. There will be no public offering of the Equity Shares in the United States.

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