Mankind Pharma Limited — QIP/Rights/Pref., 16-12-2024: Qualified Institutional Placement

Mankind Pharma Limited has announced a board meeting to raise up to ₹3,000 crores (Indian Rupees Three Thousand Crores) through a Qualified Institutions Placement (QIP). The equity shares, with a face value of ₹1 each, will be offered at a floor price of ₹2,616.55 per share, determined in accordance with relevant regulations. The issue opens on the same day and may include a discount of up to 5% on the floor price. Proceeds from the QIP are intended for strategic initiatives, bolstering the company's financial position and growth plans.