Mankind Pharma said that its board approved to raise funds aggregating to Rs 10,000 crore through non convertible debentures (NCDs) and commercial papers (CPs) on private placement basis.
The company will raise funds by way of issuance of non-convertible debentures (NCDs) and Commercial Papers (CPs) on private placement basis for an amount aggregating upto Rs 10,000 crore.
The board has also constituted and authorized the Fund Raising Committee to take all necessary actions including finalization of the terms of issuance, allotment of NCDs and CPs and other related matters.
Meanwhile, the companys board also approved corporate guarantees for its subsidiaries, Mankind Agritech Private, Appian Properties, Copmed Pharmaceuticals Private and Lifestar Pharma LLC.
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.
The counter rallied 4.78% to ends at Rs 2,547.15 on Friday, 20 September 2024.
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First Published: Sep 21 2024 | 5:00 PM IST
