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Mankind Pharma Block Deal Sees ₹770 Crore Shares Swap, Sparks 2.5% Surge in Share Price

The buyers & sellers involved in this deal have not been confirmed as of yet.

Shares of Mankind Pharma were trading in the green and surged 2% higher on 9 July after 37 lakh shares of the company changed hands on the exchanges via a block deal. 

Around 37 lakh shares, representing 0.9% equity of Mankind Pharma Ltd. exchanged hands in multiple block deals. Shares were transferred at an average price of Rs 2,083 per share, totalling the transaction value to around Rs 770.71 crore.

However, the buyers & sellers involved in this deal have not been confirmed as of yet.

According to reports, Hema CIPEF planned to sell 0.9% of the company’s equity via multiple block deals valuing about Rs 762.6 crore on 9 July. Floor price of the transaction had been fixed at Rs 2,061 per share, which is a 2% discount from yesterday’s closing price of Rs 2,102.50. .

As of the March Quarter, Hema CIPEF held a 2.22% stake in Mankind Pharma Ltd, Indian Mutual Funds held about 8.57%, and Foreign Portfolio Investors (FPIs) held 9.87%.

Mankind Pharma shares are up 62% from their IPO price, which was Rs 1,300 per share last May.

At 10:05 AM, the shares of Mankind Pharma Ltd. were trading 2.47% higher at Rs 2,156 on BSE.

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