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The Juneja brothers made and grew the company single-handedly. Ramesh C Juneja, the Chairman of Mankind Pharma, was a medical representative.
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Updated : Apr 21, 2023, 11:27 AM IST | Edited by : Vaibhav Tiwari
 "Mankind has the largest network of medical representatives in India. Rajeev is credited for this success. (File)")
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Mankind, the Delhi-based drug company, will bring its IPO on April 25 and close it on April 27. The price band hasn't been announced. According to reports, the promoters of the home-grown firm -- Ramesh Juneja, Rajeev Juneja and Sheetal Arora -- may offload their shareholdings. The company, founded and run by Juneja's extended family, has 25 manufacturing facilities across the country. Till December, it had a team of 600 scientists. They run research and development centres at four units. Here's the inspirational story of the Juneja brothers who have a net worth of whopping Rs 34500 crore (Forbes data in 2022).
Mankind is one of the leading condom brands in India. It also manufactures other drugs. The company regularly hits revenues of up to 1 billion dollars. Its market cap is a whopping Rs 43,264 crore. It is the fourth largest company in India in terms of domestic sales. Last year, by December 2022, its consolidated profit was Rs 996.4 crore. The revenue for the first nine months was Rs 6697 crore. The company had warned of a profit of Rs 1433 crore last financial year.
The Juneja brothers made and grew the company single-handedly. Ramesh C Juneja, the Chairman of Mankind Pharma, was a medical representative for a company called Kee Pharma, in 1974. He worked with Lupin for eight years before starting his own business. In 1994, he left the company he founded. In 1995, he started Mankind with his brother Rajeev Juneja. The initial investment for the business was Rs 50 lakh. They started the firm with 25 medical representatives.
Mankind has the largest network of medical representatives in India. Rajeev is credited for this success. He is the CEO of the company. He also spends a lot of time with the team. Their nephew, Arjun, oversees manufacturing and research and development. Another nephew, Sheetal Arora, looks after Lifestar, the marketing arm for gynaecology, dermatology drugs.
While Ramesh Juneja is a science graduate, his brother is a college drop out.
According to reports, the price band could be between Rs 1026 and Rs 1080.
Mankind claims its Manforce condom brand is the market leader in its category with a domestic sale of over Rs 461.60 crore. Their Prega News pregnancy kits generated a sale of Rs 184.40 crore.
