Delhi-based pharmaceutical major Mankind Pharma on Friday announced that it will raise up to Rs 10,000 crore by issuing non-convertible debentures (NCDs) and commercial paper (CPs) in a private placement, according to an exchange filing. is a company listed on the Bombay Stock Exchange (BSE).
This comes after the company, on September 17, announced a board meeting to approve fundraising to finance Sintu’s recent acquisition of Bharat Serums and Vaccines (BSV). The company acquired 100 percent stake in BSV from private equity firm Advent International for Rs 13,630 crore.
The Board of Trustees also constituted and authorized a Fund Raising Committee to take all necessary steps regarding fund raising, including finalization of issue conditions, allocation of NCDs and CPs, and other related matters. “Any further warnings about this connection will be sent to the exchange at a later date,” the company said.
The board also announced the issuance of corporate bonds for four of its subsidiaries, namely Mankind Agritech, Appian Properties, Copmed Pharmaceuticals, and Lifestar Pharma.
First published: Sep 20 2024 | 7:53 PM IST