Mankind completes Rs 13,768 cr acquisition of Bharat Serums and Vaccines

The announcement was made after market hours. On Wednesday, Mankind Pharma's shares closed at Rs 2,529.80 apiece, down 1.46 per cent on the Bombay Stock Exchange (BSE)

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Delhi-based pharmaceutical major Mankind Pharma on Wednesday announced that it has completed the acquisition of 100 per cent stake in Bharat Serums and Vaccines (BSV) for Rs 13,768 crore.

 

The transaction was funded through internal accruals and external debt, arranged through a combination of non-convertible debentures (NCDs) and commercial papers.

 

“Mankind Pharma may consider retiring a portion of its debt through a potential equity raise, which is already approved by the shareholders,” the company added. 

 

Terming BSV’s acquisition a pivotal moment for the company, Rajeev Juneja, vice-chairman and managing director, Mankind Pharma, said BSV’s established specialty R&D tech platforms with complex portfolio perfectly aligns with Mankind’s vision to expand into a high-entry barrier area.

 

“This strategic move marks a significant leap for Mankind Pharma, positioning us as a market leader in the Indian women’s health and fertility drug market,” he added.

 

BSV has a niche portfolio offering in women’s health with products ranging from fertility drugs to post-pregnancy therapies.  Additionally, the company has a presence in the animal bites category, including drugs like snake venom antiserum and equine rabies IgG (immunoglobulin).

 

Mankind Pharma stated that the Ebitda margin-accretive acquisition aligns with its goal of maintaining a net debt-to-Ebitda ratio below two times by financial year 2025-26 (FY26), reinforcing its commitment to sustainable growth and financial discipline.

 

The announcement was made after the market hours. On Wednesday, Mankind Pharma’s shares closed at Rs 2,529.80 apiece, down 1.46 per cent on the Bombay Stock Exchange (BSE).