Mankind Pharma Gains 1% Post Strategic Stake in Actimed Therapeutics

18 Dec 2023 , 02:39 PM

Mankind Pharma shares gained 1% on December 18 after acquiring a 1.29% stake in Actimed Therapeutics for £999,900.

Post-acquisition, Mankind Pharma holds 10.19% of Actimed Therapeutics shares. The investment focuses on the treatment of cancer cachexia, amyotrophic lateral sclerosis, and muscle-wasting disorders.

At the time of writing, Mankind Pharma shares were quoted at Rs 1,940.55 apiece on the BSE, up 2.50% from the previous session’s close.

On December 12, Chrys Capital sold Rs 3,282 crore worth of Mankind Pharma shares in a block deal. The shares were offloaded through Chrys Capital’s subsidiary Beige Ltd, totaling 1.79 crore shares.

Nuvama Alternative & Quantitative Research anticipates a significant increase in Mankind Pharma’s free float post the mega stake sale.

The company’s Rs 4,326-crore IPO in April was one of the largest by a domestic pharma player since 2020. Mankind Pharma had a strong debut on the bourses in May, listing at a 20% premium to its IPO price.

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