Mankind Pharma QIP: Rs 3000 Crore Fundraise - Check Floor Price

The pharmaceutical giant Mankind Pharma is moving forward with its Qualified Institutions Placement (QIP). The Company has launched its QIP to raise Rs 3,000 crore. The approval came at a meeting held on December 16, 2024, where key details, including the floor price and issue opening date, were finalised.

‘Raising of funds aggregating up to Rs 3,000 crores (Indian Rupees Three Thousand Crores only) by way of Qualified Institutions Placement (“QIP”),’ the company mentioned in the exchange filing.

Mankind Pharma QIP Floor Price 
The company fixed a floor price of Rs 2,616.55 per equity share based on the pricing formula.

‘The Floor price for the Issue, being Rs 2,616.55/- per Equity Share (“Floor Price”), based on the pricing formula,’ according to the company exchange filing on BSE .

Mankind Pharma’s relevant date for the issue, as per SEBI norms, was also set as December 16, 2024.

Option for Discount Up to 5%
The company has left room for flexibility by authorizing a discount of up to 5% on the floor price.

This aligns with shareholder approval secured earlier through a special resolution passed on June 17, 2024. The final issue price will be determined in consultation with the book-running lead managers.

‘In accordance with the approval of the Shareholders accorded through a special resolution on June 17, 2024, the Fund Raising Committee of Directors of the Company may at its discretion offer a discount of not more than 5% on the floor price so calculated for the Issue,’ as per the company statement in the exchange filing.

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