According to numerous industry insiders, a group of three private equity firms—Chrys Capital, Capital Group, and Everbridge Partners—are seeking to reduce their ownership position in Mankind Pharma, which is valued at least $592 million, through a block deal.
“These three investors want to sell a share for about $592 million at a base deal size. One of the aforementioned individuals stated, “Taking into account the up size option, the deal size may go up to $677 million.”
A second source informed the sources that the total share diluted by the three investors would be 7.9 percent for the upsize option and 6.9 percent for the basic size sale.
Investment banks IIFL Capital and Kotak Mahindra Capital were serving as consultants for the potential block deal, a third party disclosed.
He said that the floor price, which was Rs 1785.65 a share, represented a 7% reduction to Mankind Pharma’s December 11 closing price of Rs 1920.05 per share.
The three individuals mentioned above all agreed to remain anonymous.
The three private equity investors and the bankers were unavailable for immediate reaction to the sources.
Over the past six months, Mankind Pharma’s stock has increased by thirty percent. On May 9, it made a great market launch. With its Rs 4,326-crore IPO, the company became the largest domestic pharmaceutical player to do so since 2020, when Gland Pharma made its market debut with a Rs 6,480-crore offering.
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