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Mankind Pharma plans a ₹3,000-crore QIP at ₹2,520/share, causing a 2.9% equity dilution. Funds will repay debt linked to its ₹14,000-crore Bharat Serums acquisition.
Mankind Pharma is gearing up to launch a Qualified Institutional Placement (QIP) to raise ₹3,000 crore. The issue price is expected to be approximately ₹2,520 per share, resulting in an estimated 2.9% equity dilution post-issue. The funds will primarily be used to repay debt incurred during the ₹14,000-crore acquisition of Bharat Serums and Vaccines (BSV).
Also read: Gravita India Launches ₹750-Crore QIP at ₹2,206.49/Share Floor Price
QIP Details: ₹3,000 crore at ₹2,520/share, 2.9% equity dilution expected.
Purpose: Debt repayment for BSV acquisition.
Mankind Pharma Share Price: Shares recently settled at ₹2,686.05 on NSE, reflecting a strong 35% YTD gain.
Also read: ADIA to Divest ₹1,903-Crore Stake in Mindspace REIT at ₹350/Share
The ₹14,000-crore acquisition of Bharat Serums and Vaccines was financed through a mix of reserves, loans, and the upcoming QIP. Mankind Pharma allocated ₹4,000 crore from its reserves, while ₹7,000 crore was secured via loans. The remaining ₹3,000 crore will be raised through the QIP, bolstering its financial stability for long-term growth.
Mankind Pharma posted impressive financial results for Q2 FY25, showing robust growth across key metrics:
Metric | Q2 FY25 | Q2 FY24 | Growth (%) |
Net Profit | ₹653.5 crore | ₹501 crore | 30.4% |
Revenue from Operations | ₹3,076.5 crore | ₹2,708.1 crore | 13.6% |
EBITDA | ₹850 crore | ₹682.6 crore | 24.5% |
Mankind Pharma’s IPO in April 2023 marked one of the biggest public offerings by a pharma company in recent years, raising ₹4,326 crore. Since its listing at ₹1,300 per share, the Mankind Pharma share price has surged over 90%, delivering a strong return to investors. The stock settled at ₹2,686.05 on Monday, up 1.7%, reflecting continued investor confidence.
Mankind Pharma’s ₹3,000-crore QIP underscores its strategic focus on managing its debt burden while maintaining strong financial performance. With the recent BSV acquisition and steady growth across key metrics, the company remains poised for long-term success.
Also read: HCC Launches ₹400-Crore QIP with Floor Price of ₹45
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