Condom maker Mankind up 23% in India`s biggest listing of 2023
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Shares of Manforce condom maker Mankind Pharma Ltd surged as much as 23% in debut trading on Tuesday, valuing the company at 531.58 billion rupees ($6.50 billion), and making it the biggest domestic listing so far this year.
The company, which also owns at-home pregnancy testing kit Prega News, opened at 1,300 rupees, compared with an offer price of 1,080 rupees for its initial public offering.
Indian benchmark indexes, the Nifty 50 and the S&P BSE Sensex, were up 0.3% each as of 10:03 a.m. IST.
($1 = 81.7800 Indian rupees)
