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