Mankind Pharma, a leading pharmaceutical company, is set to witness a substantial block deal in the stock market, with a base size of ₹4,935 crores and an upsize option of ₹5,649 crores.
Private investors, including Beige Investment and others, set to sell shares, impacting around 6.9% of the company's equity.
Expected floor price for the deal is ₹1,785.65 per share, signaling a potential 7% discount from the current market price.
Kotak likely to facilitate the deal as the broker, navigating the transaction between buyers and sellers.
Kotak is anticipated to play a pivotal role as the broker for this high-profile block deal, facilitating the transaction between the buying and selling parties.
Recent market trends indicate a 1.68% decline in Mankind Pharma's share value on the NSE, closing at ₹1,920. The 52-week high stands at ₹2,041.15.
Promoters continue to maintain a stable 76.50% stake in the company, reflecting confidence in Mankind Pharma's future prospects.
Mankind Pharma, listed earlier this year, saw a 20% premium at ₹1,300 per share compared to the ₹1,080 issue price.
Q4 2023 reports a robust performance with a profit surge to ₹285.4 crores, showcasing a 17% growth in revenue.
Mankind Pharma strengthens its market presence post the acquisition, demonstrating resilience and growth.