Mankind Pharma faces potential mega $590M plus block deal as 3 PE funds consider stake sale

A significant block deal is in progress involving Mankind Pharma, with three private equity funds—Chrys Capital, Capital Group, and Everbridge Partners—looking to sell a stake worth at least $592 million. The potential deal size could increase to $677 million with the upsize option. The combined stake up for sale is currently set at 6.9%, which could go up to 7.9% with the upsize option.

Kotak Mahindra Capital and IIFL Capital are reportedly acting as advisors for this block deal. The floor price for the deal is set at Rs 1785.65 per share, representing a seven percent discount to Mankind Pharma's closing price on December 11, which was Rs 1920.05 per share.

The Mankind Pharma stock has witnessed a 30% increase in the last six months, and its IPO debut on May 9 was strong, raising Rs 4,326 crore. This IPO was one of the largest by a domestic pharmaceutical company since Gland Pharma's market debut in 2020 with a Rs 6,480 crore issue.

For the latest information or specific details on the block deal, it is recommended to follow up with reliable financial news sources or check official statements from the companies involved.