Mankind Pharma Limited, a prominent player in India's pharmaceutical industry, has announced its plans to raise ₹3,000 crores through a Qualified Institutions Placement (QIP) of equity shares. The approval for this fundraise was granted by the Fund Raising Committee of Directors in their meeting held on December 16, 2024, in line with the provisions under SEBI ICDR Regulations, 2018 and the Companies Act, 2013.

Key Details of the QIP:

1. Fundraising Objective:
   The proposed QIP is aimed at strengthening Mankind Pharma's financial position and funding its future growth initiatives. This move reflects the company's strategy to capitalize on market opportunities and drive long-term shareholder value.

2. Approval Timeline:

   • Board Approval: The board of directors approved the QIP in its meeting on May 15, 2024.
   • Shareholder Approval: A special resolution was passed through postal ballot on June 17, 2024.
   • Issue Opening: The QIP officially opened on December 16, 2024, for eligible Qualified Institutional Buyers (QIBs).

3. Floor Price Determination:
   The floor price for the QIP has been set at ₹2,616.55 per equity share. This price has been determined based on the SEBI-prescribed pricing formula, as per Regulation 176(1) of the SEBI ICDR Regulations.

4. Discount Clause:
   As per the shareholders' resolution and SEBI guidelines, the company holds the discretion to offer a discount of up to 5% on the floor price, ensuring the price remains competitive and attractive to institutional investors.

Regulatory Compliance:

Mankind Pharma has adhered to all statutory regulations under:

• Chapter VI of the SEBI ICDR Regulations, 2018
• Section 42 of the Companies Act, 2013
• Rule 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014

Relevant Date for Floor Price:

The relevant date for calculating the floor price was set as December 16, 2024, the day of the QIP approval. The company’s auditors, M/s. S.R. Batliboi & Co. LLP, validated the floor price calculations.

Authorization for Execution:

The Fund Raising Committee has authorized the following senior executives to oversee the QIP process:

• Mr. Ramesh Juneja (Chairman & Whole Time Director)
• Mr. Rajeev Juneja (Vice Chairman & Managing Director)
• Mr. Sheetal Arora (CEO & Whole Time Director)
• Mr. Prem Kumar Arora (Director-FHA)
• Mr. Arjun Juneja (COO)
• Mr. Chanakya Juneja (Director-Technology)
• Mr. Ashutosh Dhawan (CFO)
• Mr. Ashish Mittal (Company Secretary & Compliance Officer)

These officials are tasked with ensuring smooth execution of the QIP and making requisite disclosures to regulatory authorities, including BSE Limited and NSE.

Meeting Duration:
The meeting commenced at 6:35 PM IST and concluded at 11:20 PM IST, indicating the extensive deliberation involved in finalizing the QIP terms.

Next Steps:

The company will now work in collaboration with book running lead managers to determine the final issue price based on demand received from institutional investors. The response to the QIP will play a key role in gauging investor confidence and positioning Mankind Pharma for its upcoming growth plans.

About Mankind Pharma:

Mankind Pharma is one of India’s leading pharmaceutical companies, with a strong portfolio of affordable medicines across various therapeutic segments. Known for its focus on research, innovation, and robust market expansion, the company continues to drive substantial growth in the healthcare sector.

For further details, stakeholders can visit the official website at www.mankindpharma.com.

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