Capital Group divests stakes in Mankind Pharma for Rs 385 crore

NewsDrum Desk
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New Delhi, Jul 10 (ITI) Financial services company Capital Group on Wednesday divested stakes in Mankind Pharma for Rs 385 crore through an open market transaction.

US-based Capital Group through its affiliate HEMA CIPEF (I) Ltd sold 18.50 lakh shares or 0.5 per cent stake in Mankind Pharma, as per the block deal data on the National Stock Exchange (NSE).

The shares were offloaded at an average price of Rs 2,082 apiece, taking the deal size to Rs 385.34 crore.

At the end of the March quarter, HEMA CIPEF (I) Ltd held a 2.22 per cent stake in Mankind Pharma, shareholding data with the bourse showed.

These shares were acquired by ICICI Prudential Mutual Fund (MF), LIC MF, Future Generali India Life Insurance, National Pension Service, Morgan Stanley Asia Singapore, Norway's sovereign wealth fund Government Pension Fund Global, Societe Generale, and Goldman Sachs.

BofA Securities, Citigroup Global Markets Mauritius, Copthall Mauritius Investment, and Ghisallo Master Fund LP were also the buyers of Mankind Pharma's shares.

Shares of Mankind Pharma rose 2.40 per cent to end at Rs 2,153 apiece on the NSE. PTI HG HVA