Mankind Pharma has granted 56.31% of its equity shares in Bharat Serums and Vaccines Ltd (BSV), a wholly owned subsidiary, to Catalyst Trusteeship Ltd.
This forms one of the conditions for securing its listed NCDs worth ₹5,000 crore.
The Deed of Trust has been executed on October 10, 2024 between the group company Mankind Pharma and Catalyst Trusteeship. The NCDs issued are categorized, rated, secured, redeemable, and transferable, distributed across three series. Catalyst Trusteeship Ltd is the Common Security Trustee, so there is always security for the holders of NCDs.
For the further strengthening of the security that covers the NCDs, Mankind Pharma uses the residual equity in BSV. Bharat Serums and Vaccines Ltd is one of the prominent companies in the biopharma industry and deals with critical care, women’s health, and vaccines. It will be seen that Mankind Pharma is using the stake in BSV to achieve the long-term growth of the company while ensuring the financial liabilities.
This will comfort the investors with the fact that the company takes proactive measures for transparency and trust in its dealings. Mankind Pharma promises it can fulfill promises, and this goes hand in hand with its commitment to the health care sector as BSV adds innovative contributions to the sector.
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