Mankind Pharma Pledges Majority 56% Stake in Subsidiary Bharat Serums

Mankind Pharma has pledged an additional 56.31% of its equity stake in Bharat Serums and Vaccines Ltd (BSV), its fully-owned subsidiary, to Catalyst Trusteeship Ltd. This move aligns with the conditions set for securing its listed non-convertible debentures (NCDs).

Acquisition and Pledge of Equity Shares 

Bharat Serums and Vaccines Limited (“BSV”) became a wholly owned subsidiary of the Company on October 23, 2024. Subsequently, under a Pledge Agreement executed on November 14, 2024, between Catalyst Trusteeship Limited (the “Common Security Trustee”), BSV, and the Company, 56.31% of the equity shares of BSV were pledged. This pledge was provided as security for listed, rated, secured, redeemable, and transferable non-convertible debentures (NCDs) worth ₹5,000 crores issued by the Company.  

Pledge Details and Status

The equity shares of BSV will remain pledged until the NCDs are settled. As this is a pledge arrangement, there has been no sale or disposal of shares, and no consideration has been received. The transaction does not involve any buyers, including those from the promoter, promoter group, or group companies.  

Non-Applicability of Related Party Transaction and Scheme of Arrangement

This transaction does not qualify as a related party transaction and has been conducted at arm’s length. Additionally, it does not fall under the Scheme of Arrangement, and compliance with Regulation 37A of the LODR Regulations is not applicable.

Exclusion of Slump Sale and Related Disclosures

As the arrangement does not involve a slump sale, disclosures related to amalgamation or merger are not required. The transaction is structured solely as a security arrangement for the settlement of the NCDs.

Mankind Pharma Share performance

As of January 8, 2025, at 10:00 AM, Mankind Pharma Limited’s shares are trading at ₹2,915.50 per share, reflecting a 0.14% decrease from the previous day’s closing price. Over the past month, the stock has surged by 12.88%, and over the past year, it has risen by an impressive 45.99%. The stock’s 52-week range is between a high of ₹3,054 and a low of ₹1,901 per share.

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