Mono Pharmacare shares list with 3.57% premium at ₹29 apiece on NSE Emerge

Mono Pharmacare IPO Listing: Mono Pharmacare shares were listed with a tepid premium of 3.57% at ₹29 apiece on NSE Emerge, as against the issue price of ₹28 per share.

Mono Pharmacare Ltd, the marketer and distributor of pharmaceutical products, launched its initial public offering (IPO) from August 28 to August 30.

Mono Pharmacare IPO was subscribed 13.42 times in total at the end of the subscription period. The public issue was booked 19.40 times in the retail category, 10.89 times in the Qualified Institutional Buyers’ (QIB) category and 8.00 times in the Non-Institutional Investors (NII) category.

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The company raised ₹14.84 crore from the IPO, which consisted of fresh issue of 53 lakh equity shares. There was no offer for sale (OFS) component in Mono Pharmacare IPO. 

Mono Pharmacare IPO price band was fixed at ₹26 to ₹28 per share.

The company intends to use the gross proceeds to meet the working capital requirements; general corporate purposes; and to meet the issue expenses.

Mono Pharmacare IPO’s lead manager was Unistone Capital Private Ltd, and the registrar is Bigshare Services Private Ltd.

Mono Pharmacare Ltd’s core business activities are marketing and distribution of pharmaceutical products.

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