 "Mankind Pharma promoters to divest 1.62% stake to comply with Sebi norms")
Mankind Pharma promoters Sheetal Arora, Arjun Juneja, and Puja Juneja have decided to sell a combined 1.62 per cent equity shares in the company, according to an exchange disclosure released by the company. The company will sell the stake in the open market to comply with the requirements of minimum public shareholding (MPS) rules of the Securities and Exchange Board of India (Sebi).
The MPS rule requires all listed companies in India to ensure that at least 25 per cent of their equity shares are held by non-promoters or the public.
The current aggregate promoter and promoter group shareholding as on February 7 is 76.50 per cent of the total paid-up equity share capital of the company.
Post completion of the aforesaid sale, the aggregate promoter and promoter group shareholding in the company would be reduced to 74.88 per cent, according to the company’s filing.
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