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Mankind Pharma raises nearly Rs 3,000 crore from eligible institutional buyers via QIP issue As on : 20-Dec-24  11:52

The company has approved the allocation of 1,19,04,761 equity shares at an issue price of Rs 2,520 per equity share to the eligible qualified institutional buyers. The issue price represents a discount of 3.69% to the floor price of Rs 2616.55 per equity share.

The company has raised an aggregate sum of Rs 2,999.99 crore from the said issue. Consequent to the aforesaid allotment, the paid-up share capital of the company has increased from Rs 40.06 crore consisting 40.06 crore equity shares to Rs 41.25 crore consisting 41.25 crore equity shares having face value of Re 1 each.

The QIP attracted significant interest from various institutional investors, including SBI Mutual Fund, Government Pension Fund Global, HDFC Trustee Company, Motilal Oswal Midcap Fund, Government of Singapore, ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund, NPS Trust, and Aditya Birla Sun Life Trustee.

Mankind pharma is one of the largest pharmaceutical company in India, which focuses on the domestic market with its Pan India presence.Mankind pharma operates at the intersection of the Indian pharmaceutical formulations and consumer healthcare sectors with the aim of providing quality products at affordable prices. The company has 25 manufacturing facilities in India manufacturing a wide range of dosage forms, including tablets, capsules, syrups, vials, ampoules, blow fill seal, soft and hard gels, eye drops, creams, contraceptives and other over-the-counter products.

The company's consolidated net profit surged 30.43% to Rs 653.47 crore on a 13.6% rise in revenue to Rs 3,076.51 crore in Q2 FY25 as compared to Q2 FY24.

The scrip shed 0.98% to currently trade at Rs 2861.05 on the BSE.

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