Mankind Pharma has filed its draft red herring prospectus (DRHP) papers with market regulator Securities and Exchange Board of India (SEBI) to raise funds through initial public offering (IPO).The IPO will comprise an offer for sale (OFS) of 4 crore (40,058,844) equity shares by the company's promoters and existing shareholders. The promoters of the company are Ramesh Juneja, Rajeev Juneja, Sheetal Arora, Ramesh Juneja Family Trust, Rajeev Juneja Family Trust and Prem Sheetal Family Trust. Sources told Livemint that the size of the IPO is expected to be of about ₹5,500 crore, which could make it one of the largest ever public issues by a domestic pharma company.The entire proceeds from the offer will be paid to the selling Shareholders in proportion of the equity shares offered by the Selling Shareholders in the offer for sale and the company will not receive any proceeds from the Offer, as per the DRHP.Incorporated in 1991, Mankind Pharma is among a leading pharmaceutical company in India. Besides branded generic drugs, the company’s prominent brands include Prega-News pregnancy testing kits, Manforce condoms, Gas-O-Fast ayurvedic antacids and acne-treating medicine AcneStar. As of March 31, 2022, it operates 23 manufacturing facilities across India, including in the states of Himachal Pradesh, Sikkim, Rajasthan, Andhra Pradesh and Uttarakhand.For the Financial Years 2020, 2021 and 2022, the company's revenue from operations in India amounted to ₹5,788.8 crore, ₹6,028 crore and ₹7,594.7 crore, respectively, representing 98.70%, 97.01% and 97.60%, respectively, of its total revenue from operations. After India, its major markets are the United States, Bangladesh, Sri Lanka and Nepal.In 2015, Capital International had bought an 11% stake in Mankind from ChrysCapital for $200 million. In April 2018, ChrysCapital bought a 10% stake again for about $350 million.In April this year, Mankind Pharma announced the launch of Mankind Agritech Pvt Ltd to foray into agritech segment and the company said it will invest ₹200 crore in the next two to three years. Meanwhile in February 2022, Mankind Pharma acquired Panacea Biotec Pharma's formulations brands for ₹1,872 crore. As per the agreement, Mankind Pharma said it is retaining Panacea's sales and marketing team engaged in the particular business.