Capital Group affiliate Hema CIPEF likely to offload 0.9% stake in Mankind Pharma

Mankind Pharma

Capital Group affiliate Hema CIPEF is likely to sell a 0.9 percent stake in drugmaker Mankind Pharma Ltd through block deals, CNBC-TV18 reported citing sources.

As per the report, the block deal will be valued at Rs 762.6 crore, with the issue price set at Rs 2,061 per share. The issue price implies a discount of 2 percent from Mankind Pharma's previous closing price of Rs 2,102.50.

Hema CIPEF owned a 2.22 percent stake in Mankind Pharma, as per the drugmaker's latest shareholding data. The block deals will be managed by Kotak Securities Ltd and IIFL Securities Ltd, who are acting as the book runners and brokers for the transaction, the report added.

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