Beige Pares Stake In Mankind Pharma For Rs 2,470 Crore

Beige Ltd., an affiliate of private equity firm ChrysCapital, pared its stake in Mankind Pharma Ltd. for Rs 2,470 crore through an open market transaction on Tuesday.

Beige sold 1.16 crore shares—representing 2.9% equity—at an average price of Rs 2,122.51 apiece, according to bulk deal data on the NSE. The shares were offloaded in two tranches.

The Mauritius-registered investment company held a 2.99% stake in Mankind Pharma as of December 2023. In the same month, the firm had reduced its holding by over 4%.

The buyers could not be ascertained.

Last month, three promoters of the drugmaker sold 1.58% of their stake for Rs 1,365.5 crore, in compliance with the minimum public shareholding rules.

Shares of Mankind Pharma closed 1.64% higher at Rs 2,248.80 apiece, as compared with a 0.50% fall in the benchmark BSE Sensex.