Mankind Pharma Limited — Important, 15-11-2024: General Updates

39.68% equity shares of Bharat Serums and Vaccines Limited (a wholly-owned subsidiary) have been pledged to Catalyst Trusteeship Limited as security for the issuance of listed, rated, secured, redeemable, transferable non-convertible debentures totaling INR 5,000 crores. This pledge, established through a Pledge Agreement executed on November 14, 2024, will remain in place until the NCDs are settled. The transaction does not constitute related party transactions and does not apply under any Scheme of Arrangement. While BSV recently became a wholly-owned subsidiary on October 23, 2024, it did not contribute any revenue or net worth during the last financial year. Keep an eye on this commitment as it could impact the subsidiary's operational flexibility.