Mankind Pharma Limited, a major player in the pharmaceutical industry, announced on Friday (November 15) through an exchange filing that its wholly owned subsidiary, Bharat Serums and Vaccines Limited (BSV), has pledged 39.68 percent of BSV’s equity shares to Catalyst Trusteeship Limited as security for non-convertible debentures (NCDs) worth Rs 5,000 crores.
Pledge Agreement Details
The company stated in the regulatory filing that 39.68% of BSV’s equity shares have been pledged in favor of the Common Security Trustee as security for listed, rated, secured, redeemable, transferable non-convertible debentures totaling INR 5,000 crores (“NCDs”) issued by the company in 3 Series in accordance with 3 debenture trust deeds, in accordance with the terms and conditions of the Pledge Agreement signed on November 14, 2024, between the Catalyst Trusteeship Limited (“Common Security Trustee”), BSV, and “
This sizeable commitment demonstrates Mankind Pharma’s dedication to meeting its financial plans and investor commitments, using its assets to obtain necessary debt financing. It is anticipated that the company’s financial move will provide strong support for its expansion goals, highlighting the strategic importance of BSV in its portfolio.
Mankind Pharma Limited Share Price
The stock price of Mankind Pharma, a well-known pharmaceutical firm in India, increased on November 14, 2024. The sector has underperformed by 3.93%, while the stock has increased by 4.03%. For Mankind Pharma, a large-cap firm, this is a notable rise. The stock recommendation for Mankind Pharma is ‘Buy’, according to a top stock market analysis and recommendation tool. This is encouraging for investors and indicates that the company’s stock may continue to rise. In the same day, Mankind Pharma’s shares reached an intraday high of Rs 2651.55, up 4.77% from the closing price of the day before. This indicates that the performance of the stock is on a strong rising trend.
