Mankind Pharma declines over 4% after announcing block deal worth Rs 4935 crore

Mankind Pharma Share Price: Mankind Pharma was off to a lacklustre start on BSE on Tuesday morning after it announced a block deal worth Rs 4,935 core. 

The stock was trading down by 4.40 per cent, or Rs 84.35, at Rs 1834.40 at 9:19 am on Tuesday after the pharma company launched the block deal at Rs 1,785.65 per share, or at a 7 per cent discount from LTP. 

The stock that closed at Rs 1,918.75 on Monday started the trading session on Tuesday at Rs 1,849.05 before slipping. 

What is Mankind Pharma block deal?

• The Mankind Pharma block deal is worth Rs 4,935 crore.
• A total of 3.04 crore shares were traded in the deal. 
• The deal has been launched at Rs 1,785.65/share, at a 7 per cent discount from LTP.
• As per the deal, five entities sold a 7.6 per cent stake.
• Green shoe option got an offer size of Rs 5,650 crore.