Mankind Pharma and Delhivery shares surge up to 4% after block deal
Mankind Pharma surged 4% to today's high of Rs 2,187.85, while those of Delhivery rose 2% to its day's high of Rs 403.65 on the BSE after a stake was offloaded in the companies via block deals.
Hema CIPEF (I), an affiliate of the US-based Capital Group, likely sold a 0.9% stake in Mankind Pharma through block deals, while Canada Pension Plan Investment also reportedly offloaded a 3.17% stake in Delhivery. However, the official parties involved in the transaction are not yet known.
Here are the details of the block deals:
Mankind Pharma
According to the term sheet issued by bankers IIFL Securities and Kotak Securities, Hema CIPEF was offering to sell 37 lakh shares at a floor price of Rs 2,061 per share, representing a 2% discount to Tuesday's closing price of Rs 2,102.50 on the NSE. The deal at the floor price is valued at Rs 763 crore.
As of March 31, 2024, Capital Group held a 2.22% stake in the company. In December of the previous year, Capital Group divested a 3.14% stake in Mankind Pharma.
As per the information available with the exchanges, nearly 78% of the company's stake lies with the promoter and the promoter group, while the remaining 22% is held by the public.
Mankind Pharma launched its maiden public offer in April last year. The Rs 4,326-crore initial share sale was subscribed 15.32 times. The IPO was listed on May 5 last year at a 31% premium and has since rallied 48%.
Delhivery
Canada Pension Plan Investment reportedly offloaded a 3.17% stake in Delhivery today, with the transaction amounting
