Mankind Pharma's fund raising committee OKs to raise Rs 10,000 cr via NCDs & CP

The pharma major announced that its fund raising committee approved to raise funds through non-convertible debentures (NCDs) and commercial papers (CP) aggregating to Rs 10,000 crore in one or more tranches.

The company will issue up to Rs 500,000 secured, rated, and listed non-convertible debentures, each with a nominal value of Rs 100,000, totaling Rs 5,000 crore through private placement basis.

The company will issue listed and rated commercial paper not exceeding Rs 5,000 crore through private placement basis.

The said debentures will be issued in 3 to 4 distinct series with maturities of up to 48 months and tenure of the commercial paper will be between 3 to 12 months.

The debentures and commercial papers will list on the Bombay Stock Exchange (BSE).

Mankind pharma is one of the largest pharmaceutical company in India, which focuses on the domestic market with its Pan India presence.Mankind pharma operates at the intersection of the Indian pharmaceutical formulations and consumer healthcare sectors with the aim of providing quality products at affordable prices. The company has 25 manufacturing facilities in India manufacturing a wide range of dosage forms, including tablets, capsules, syrups, vials, ampoules, blow fill seal, soft and hard gels, eye drops, creams, contraceptives and other over-the-counter products.

The pharmaceutical company reported 10.19% increase in consolidated net profit to Rs 536.49 crore in Q1 FY25 as against Rs 486.87 crore posted in Q1 FY24.Revenue from operations stood at Rs 2,893.42 crore in Q1 FY25, up 12.20% as against with Rs 2,578.62 crore in Q1 FY24.

Shares of Mankind Pharma fell 1.74% to currently trade at Rs 2,454.95 on the BSE.

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