Mankind Pharma on Tuesday made a stellar debut on the stock exchanges with the shares of the pharma and consumer healthcare company ending at a premium of nearly 32 per cent over its issue price of Rs 1,080.

The share opened at Rs 1,300, a gain of 20.37 per cent on the BSE. After rising 32.40 per cent to a day’s high of Rs 1,430, the stock settled at Rs 1,424.05, a premium of 31.85 per cent to the issue price. Based on the closing price, it had a market cap of nearly Rs 57,046 crore.

On the NSE, the stock opened at Rs 1,300 and subsequently finished at Rs 1,430 per share. In volume terms, 12 lakh shares of the company were traded on the BSE during the day and over 3.31 crore shares on the NSE.

The company's Rs 4,326-crore initial share sale was subscribed 15.32 times last month.The IPO comprised share sales by promoters and other existing shareholders (offer for sale) of four crore shares, available at a price band of Rs 1,026-1,080 per share.

The company’s healthy listing comes at a time the healthcare sector has lagged the benchmark indices over the past month. Experts are recommending investors to stay in the company for the long-term.

“With limited allotments due to 15 times over-subscription, a stellar market debut at Rs 1,300 against the issue price of Rs 1,080 is better than what we had expected. Now post listing the counter is filled with buyers assuming fear of missing out on the domestic growth story for the long term," Prashanth Tapse, senior VP (research), Mehta Equities, said.

"Given its healthy financial track record, domestic focus and extensive network, Mankind is likely to continue doing well. We are advising allotted investors to hold it for the long-term.’’