BAJAJ BROKING
Hema CIPEF, an affiliate of Capital Group, is selling a 0.9% stake in Mankind Pharma for ₹762.6 crore. The block deal at ₹2,061 per share represents a 2% discount to the market price, following the drug firm's strong financial performance.
Hema CIPEF, an affiliate of the US-based Capital Group, is set to divest a 0.9% stake in Mankind Pharma Ltd through block deals, valued at ₹762.6 crore. This move comes as part of Capital Group's ongoing strategy in the pharmaceutical sector.
The stake sale involves 37 lakh shares of Mankind Pharma at an issue price of ₹2,061 per share, which reflects a 2% discount to the Tuesday closing price of ₹2,102.50 on the NSE. Kotak Securities Ltd and IIFL Securities Ltd are facilitating the transaction as book runners and brokers.
As of March 31, 2024, Capital Group held a 2.22% stake in Mankind Pharma. In December of the previous year, Capital Group had divested a 3.14% stake in the company.
Mankind Pharma reported robust financial results for the fourth quarter ending March 31, 2024. The company recorded a significant 65.1% year-on-year increase in net profit, amounting to ₹471.2 crore compared to ₹285.4 crore in the same period last year. Revenue from operations also saw a notable 19% rise to ₹2,441.1 crore from ₹2,052.7 crore year-on-year.
At the operating level, Mankind Pharma's EBITDA surged by 41.8% to ₹591.1 crore in Q4 of FY24, up from ₹416.7 crore in Q4 of FY23. The EBITDA margin expanded to 24.2% from 20.3% year-on-year, indicating improved operational efficiency.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://bit.ly/3Tcsfuc
Share this article:
Ashok Leyland Wins ₹345.58 Crore Order for 1,475 BSVI Bus Chassis
13 Dec, 2024 | 2 Min. read
Share Market Today | Gift Nifty Indicates Negative Start For Indian Markets
13 Dec, 2024 | 4 Min. read
Statement of Account and Demat Account: Meaning & Differences
13 Dec, 2024 | 4 Min. read
What are the Timing For Commodity Market Trading?
13 Dec, 2024 | 6 Min. read
Defence Ministry Signs ₹13,500-Crore Deal with HAL for Su-30MKI Jets
13 Dec, 2024 | 2 Min. read
Kalpataru Projects To Raise ₹1,000 Cr Via QIP; Bags ₹2,174 Cr Orders
13 Dec, 2024 | 2 Min. read
Zomato Faces ₹803 Crore GST Demand, Including Interest and Penalty
13 Dec, 2024 | 2 Min. read
Gold Price in India | Gold Rises 1% to $2,719 Ahead of U.S. PPI Data
12 Dec, 2024 | 39 Min. read
Indian Overseas Bank Receives ₹808.3 Crore Income Tax Refund
12 Dec, 2024 | 2 Min. read
Shakti Pumps Secures ₹754.3 Crore Solar Water Pump Order in Maharashtra
12 Dec, 2024 | 2 Min. read
Coca-Cola Sells 40% Stake in Bottling Arm to Jubilant Bhartia Group
12 Dec, 2024 | 2 Min. read
Vedanta to Consider Fourth Interim Dividend on December 16
12 Dec, 2024 | 2 Min. read
RBI Launches ULI: Transforming Loan Access
August 27, 2024 | 4 Min. read
Textile Sector in India
September 20, 2024 | 5 Min. read
List of IPOs with DRHPs Filed
November 30, 2023 | 3 Min. read
Aditya Birla Group
September 28, 2023 | 10 Min. read
Bajaj Housing Finance Ltd IPO: Things Smart Investors Need to Know
September 05, 2024 | 4 Min. read
Budget Stock Ideas 2024-2025 | Stocks to Buy Today
July 24, 2024 | 4 Min. read
IPO Eligibility Criteria : Full Details
March 15, 2024 | 6 Min. read
What Is the Lock-In Period in IPOs?
October 18, 2023 | 6 Min. read
Godfrey Phillips Announces 2:1 Bonus Shares
September 16, 2024 | 7 Min. read
Jindal Group- A Comprehensive Analysis
September 27, 2024 | 7 Min. read
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading