Mankind Pharma shares jumped more than 2% in morning trade after the company announced that its Board of Directors has approved raising funds amounting to Rs 10,000 crore.
The funds will be raised in a private placement by issuing Non-Convertible Debentures (NCDs) and Commercial Papers (CPs).
This decision was made during the board meeting held on September 20, 2024. The proceeds will enable Mankind Pharma to strengthen its financial position, increase liquidity and support ongoing projects and company development goals.
As of 9:36 am, Mankind Pharma shares were trading 2.49% higher at Rs 2,599.00 on the NSE.
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Mankind Pharma