Mankind Pharma records block deal of 6.49 million shares

Earlier Moneycontrol reported Mankind Pharma promoters Sheetal Arora, Arjun Juneja and Puja Juneja have decided to sell a combined stake of 1.62 percent in the firm to comply with the requirements of minimum public shareholding

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Around 6.49 million shares or 1.62 percent stake changed hands in 24 block deals on Mankind Pharma on February 8, Bloomberg reported. Buyers and sellers of the deal were not known immediately.

Moneycontrol had reported Mankind Pharma promoters Sheetal Arora, Arjun Juneja and Puja Juneja have decided to sell a combined stake of 1.62 percent in the company to comply with the requirements of minimum public shareholding.

According to guidelines laid out by market regulator Sebi, all listed firms should maintain a minimum public shareholding of 25 percent. A block deal of around Rs 1,330 crore has been launched for the February 8 divestment at a floor price of Rs 2,050 per share, the Moneycontrol report added.

Kotak Mahindra Capital and IIFL Capital acted as advisors on the deal. The Mankind Pharma stock has risen by nearly 20 percent in the last six months.

The aggregate promoter and promoter group shareholding as on February 7 stood at is 76.5 percent of the total paid-up equity share capital of the company. After completion of the sale, the aggregate promoter and promoter group shareholding in the company is now reduced to 74.88 percent, as per the regulatory filing.

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