Mumbai: Hema CIPEF (I), an affiliate of US-based Capital Group, is likely to sell a 0.9% stake in Mankind Pharma through block deals on Wednesday, according to a term sheet issued by bankers IIFL Securities and Kotak Securities. Hema CIPEF per share Rs. 2,061 is offering to sell 37 lakh shares, compared to Tuesday’s close of Rs. 2,102.50 is a 2% discount to the closing price. The deal is priced at a floor price of Rs. 763 crores.
Capital Group held 2.22% stake in the company as on March 31, 2024. In December last year, Capital Group sold a 3.14% stake in Mankind Pharma.
Mankind Pharma launched its initial public offering in April last year. Mankind Pharma’s Rs. 4,326 crore initial share sale was 15.32 times subscribed. The IPO was listed on May 5 last year at a premium of 31% and has since gained 48%.
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