Mono Pharmacare IPO: GMP, subscription status on day 3, other key details

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₹26 to ₹28 per equity share and the Mono Pharmacare shares will get listed on Thursday, September 7 on NSE SME. Bids can be made for a minimum of 4,000 equity shares and in multiples of 4,000 equity shares thereafter. Mono Pharmacare Limited IPO cap price shall be at least 105% of the floor price, according to Red herring prospectus (RHP).

Mono Pharmacare Limited's core activities are pharmaceutical product marketing and distribution. The business provides cosmocare items, analgesic & antipyretic items, antacid & antiemetics items, cough, cold, and allergy items, antifungal items, nutraceutical items, cardiac - diabetic items, and antibiotics. Also Read: Rishabh Instruments IPO: Issue subscribed 73% on day 1, NII portion fully booked According to RHP, the company works with various contract manufacturers who manufacture pharmaceutical products on its behalf based on compositions given by them and subsequently it sells those products under brand 'DLS Export'.

The company also is a distributor to various pharmaceutical companies. As on February 28, 2023, the company is dealing with (distributors and stockists) 168 pharmaceutical companies and also, they are connected with 3,036 Customers/vendors who are a mix of retail pharmacy stores as well as wholesalers, as per the RHP. According to RHP, the listed industry peers of the company is Chandra Bhagat Pharma Ltd.

Mono Pharmacare IPO consists of fresh issue of 53,00,000 equity shares aggregating to ₹14.84 crore. There's no offer for sale (OFS) component. According to company's RHP it intends to use the gross proceeds to meet the working capital requirements; general corporate purposes; and to meet the issue expenses.