Capital Group Sheds Stake in Mankind Pharma for Rs 385 Crore

Capital Group, through its affiliate HEMA CIPEF (I) Ltd, sold 0.5% of its stake in Mankind Pharma for Rs 385 crore in an open market transaction. The shares were purchased by several major financial entities, and the stock saw a subsequent rise on the NSE.

In a significant financial move, Capital Group divested 0.5% of its stake in Mankind Pharma for Rs 385 crore. The transaction took place through open market trading on the NSE.

According to block deal data, the shares were sold at an average price of Rs 2,082 each. Previously, Capital Group, via its affiliate HEMA CIPEF (I) Ltd, held a 2.22% stake in the pharmaceutical company.

Major financial institutions, including ICICI Prudential Mutual Fund, LIC MF, and global entities like Morgan Stanley and Goldman Sachs, acquired these shares. The sale resulted in a 2.40% rise in Mankind Pharma's stock, closing at Rs 2,153 on the NSE.

(With inputs from agencies.)