Mankind Pharma Limited has announced the opening of its Qualified Institutions Placement (QIP) to raise up to ₹3,000 crore, as approved by the company’s Board of Directors and shareholders. The QIP, effective from December 16, 2024, is aimed at strengthening the company’s financial position and supporting its growth plans.
The floor price for the QIP has been set at ₹2,616.55 per share, in line with the SEBI (ICDR) Regulations. The final price will be determined based on investor demand and in consultation with the book-running lead managers, with the possibility of offering a discount of up to 5% on the floor price.
Key approvals include:
- Fundraising Amount: ₹3,000 crore through QIP.
- Floor Price: ₹2,616.55 per equity share.
- Opening Date: December 16, 2024.
The move follows a special resolution approved by the shareholders via postal ballot on June 17, 2024. Mankind Pharma continues its strategic focus on enhancing shareholder value and funding its expansion initiatives through efficient capital-raising measures.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Always consult a financial advisor before making investment decisions.
