Single-handedly, the Juneja brothers established and expanded the company. Ramesh C Juneja, the Chairman of Mankind Pharma, was a medical representative.
Mankind Pharma, the Delhi-based drug company, plans to launch an IPO from April 25 to April 27, with the promoters possibly selling their shares. The family-owned firm, led by the Juneja brothers, has a net worth of Rs. 34,500 crores, with 25 manufacturing facilities and 600 scientists across four research and development centers.
Mankind is a major Indian condom and drug manufacturer, with a market cap of Rs 43,264 crore. It regularly generates up to $1 billion in revenue and is the fourth-largest company in India by domestic sales. As of December 2022, its consolidated profit was Rs 996.4 crore, with revenue of Rs 6697 crore for the first nine months. Last year, the company projected a profit of Rs 1433 crore.
Ramesh C Juneja, Chairman of Mankind Pharma, was a medical representative at Kee Pharma in 1974 before starting his own business. He founded Mankind with his brother Rajeev Juneja in 1995 with an initial investment of Rs 50 lakh and 25 medical representatives.
Rajeev Juneja, the CEO of Mankind, is credited for the company’s success in having the largest network of medical representatives in India. He spends a significant amount of time with the team. Arjun Juneja, their nephew, oversees manufacturing and research and development, while Sheetal Arora, another nephew, is responsible for Lifestar, the marketing arm for gynecology and dermatology drugs.
Ramesh Juneja holds a science degree, while his brother is a college dropout.
As per reports, the price range for the IPO is expected to be between Rs 1026 and Rs 1080.
Mankind Pharma asserts that its Manforce condom brand is the top seller in its category, with a domestic sale of more than Rs 461.60 crore, while its Prega News pregnancy kits recorded a sale of Rs 184.40 crore.