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The IPO of Mankind Pharma was off the mark on Tuesday but the issue saw a muted response from the investors during the initial two hours of the book-building process.
A majority of the brokerage firms are positive on the issue and suggest investors subscribe to the issue on a long-term basis, but some analysts have raised red flags over rich valuations and complete OFS nature.
Mankind will finalise the IPO share allotment by May 3. The refunds will be credited to the bank accounts of unsuccessful investors by May 4, while the shares will be transferred to demat accounts of eligible investors by May 8.