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The said equity shares will be allotted to the eligible QIBs at an issue price of ₹2,520 per share – a price which includes a premium of ₹ 2,519 per piece, aggregating to a sum of ₹2,999.99 crore.
Following the allotment of the said equity shares under the QIP, Mankind Pharma’s paid-up equity share capital has increased from ₹40.6 crore comprising 40.06 equity shares to over ₹41.25 crore consisting of the same number of equity shares.
According to the company’s filing to the stock exchanges, Government Pension Fund Global received the largest allotment in the issue, with 8.33% of the total shares, amounting to 9,92,064 shares of Mankind Pharma.
In a report posted on Monday, CNBC-TV18 stated that the funds raised through the said QIP are primarily earmarked for partial repayment of debt associated with the acquisition of Bharat Serums and Vaccines (BSV).
Bharat Serums and Vaccines (BSV) is a major player in the biologics and vaccines space, and its acquisition from Mankind Pharma was conducted in July for an enterprise value of ₹13,630 crore.
Shares of the company traded 1.97% lower at ₹2,832.55 per piece on the BSE at 12:34 am on December 20.
For the quarter ended September 30, 2024, Mankind Pharma reported a net profit of ₹653.5 crore, rising 30.4% year-on-year (YoY) compared to a net profit of ₹501 crore in the corresponding quarter of the previous fiscal.
The company’s revenue from operations increased 13.6% to ₹3,076.5 crore against ₹3,076.5 crore in the corresponding period of the preceding fiscal. At the operating level, EBITDA (earnings before interest, taxes, depreciation, and amortization) jumped 24.5% to ₹850 crore in the second quarter of this fiscal over ₹682.6 crore in the corresponding period of FY24.
