Block deals: 0.9% equity changes hands in Mankind Pharma; Hema CIPEF likely seller

Mankind Pharma shares in Wednesday’s trade (July 10)  in early trade gained up to 4 per cent to day's high price of Rs 2,187.85 as 0.9 per cent equity or 37 lakh shares changed hands in the counter in the pre-opening block deal window.

As per reports, Hema CIPEF-the affiliate entity of the US-based Capital Group looks to offload a 0.9 per cent or 37 lakh shares in the drug major via block deals. The issue price pegged for the deal is at Rs 2,061 apiece, suggesting a over 2 per cent discount to the last closing price of Rs 2,104.

According to the shareholding data available, as of the quarter ending March 2024,  HEMA CIPEF (I) has a 2.22 per cent stake in the company. 

The deal is estimated to be valued at around Rs 763 crore.

Earlier in March this year, investor Beige reportedly sold up to a 2.9 per cent stake in the entity via block deals. 

Mankind Pharma Limited is engaged in developing, manufacturing, and marketing a diverse range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products. It has a portfolio of formulations in several therapeutic areas, such as anti-infectives, cardiovascular, gastrointestinal, vitamins/minerals/nutrients, respiratory, anti-diabetic, dermatology, gynecology, and pain/analgesics, among others.

Meanwhile, Delhivery-the logistics player also saw 3.2 per cent  equity or 2.34 crore shares change hands in the pre-opening deal window. 

Reportedly, the Canada Pension Plan Investment Board intended to sell its entire 3.17 per cent stake in the firm through block deals. The deal size is Rs 886 crore, with the offer price range set between Rs 378 to Rs 389 per share, representing a discount of 0.7 per cent to 3.5 per cent compared to the last closing price. 

At the end of March quarter, Canada Investment Plan Investment Board owned 5.96% stake in the entity.

Post the deal, the stock at the last count traded with a minor cut of Rs 392.25, while at the day's low it fell a mere 0.2 per cent to Rs 391.55.

Delhivery is a supply chain services company. The company offers fulfilment platform for digital commerce.