Shares of Mankind Pharma Ltd were trading in the red today even as the pharma firm said its board has approved the closure of the issue for the qualified institutions placement (QIP) of equity shares of the company on Thursday, 19 December 2024.
With the closure, the company has raised Rs 2,999.99 crore from the said issue.
In the current session, Mankind Pharma shares were trading 1.72% lower at Rs 2839.80 against the previous close of Rs 2,889.45 on BSE. The stock has gained 51.22% in a year and risen 44% in 2024. The stock has very low volatility with its one year beta at 0.3.
In terms of technicals, the relative strength index (RSI) of stock stands at 70.7, signaling the stock is trading in the overbought zone.
Market cap of Mankind Pharma stood at Rs 1.14 lakh crore on BSE. A total of 0.11 lakh shares of the firm changed hands amounting to a turnover of Rs 3.20 crore. Shares of Mankind Pharma climbed to a 52-week high of Rs 2920.05 on December 19, 2024 and fell to a 52 week low of Rs 1849.45 on December 21, 2023.
After the allotment, the paid-up share capital of the company has increased from Rs 40.06 crore consisting 40.06 crore equity shares to Rs 41.25 crore consisting 41.25 crore equity shares having face value of Re 1 each.
"We wish to inform you that the Fund Raising Committee of Directors of the Company at its meeting held today i.e. December 20, 2024 approved the allotment of 1,19,04,761 Equity Shares of face value of Rs 1 each to the eligible Qualified Institutional Buyers at the issue price of Rs 2,520/- per Equity Share, i.e. at a premium of Rs 2519/-per Equity Share aggregating to Rs 29,99,99,97,720/- pursuant to the Issue," said Mankind Pharma.
The QIP issue opened on December 16, 2024 and closed on December 19, 2024.
Mankind Pharma is principally engaged in the manufacturing and trading of pharmaceuticals and health care products.