ChrysCapital Pares 2.9% Stake In Mankind Pharma For Rs 2,469 Crore

ChrysCapital on Tuesday divested a 2.9% stake in pharmaceutical firm Mankind Pharma for Rs 2,469 crore through open market transactions.

Beige Ltd, an affiliate of Mauritius-based private equity firm ChrysCapital, sold shares of Mankind Pharma in two tranches on the National Stock Exchange.

According to the bulk deal data available on the NSE, Beige Ltd offloaded more than 1.16 crore shares, amounting to a 2.9% stake in Mankind Pharma.

The shares were disposed of in the price range of Rs 2,120.31-2,124.71 apiece, taking the combined transaction to Rs 2,469.70 crore.

As of December 2023, Beige Ltd holds a 2.99% stake in Mankind Pharma, shareholding data showed with the BSE.

Details of the buyers of Mankind Pharma's shares could not be ascertained.

On Tuesday, shares of Mankind Pharma rose 2.31% to close at Rs 2,265 apiece on the NSE.

In December 2023, ChrysCapital pared a 4.47% stake in Mankind Pharma.

Incorporated in 1991, Mankind Pharma develops, manufactures, and markets pharmaceutical formulations across various acute and chronic therapeutic areas and several consumer healthcare products.

Mankind produces branded generic drugs sold throughout India.

In May last year, Mankind Pharma's IPO had a stellar debut on the bourses with Rs 4,326 crore IPO. It was one of the second biggest debuts by a domestic player after Gland Pharma, making its market debut with a Rs 6,479.5 crore IPO in 2020.