Mankind Pharma realigns NCD security, releases BSVL share pledge
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Mankind Pharma has completed realignment of security cover for its Non-Convertible Debentures. Following approvals from NCD holders (July 13) and BSE (July 21), the company replaced the share pledge with tangible and intangible assets of the company and subsidiaries. The pledge on 28,280 equity shares of Bharat Serums and Vaccines Limited (38.68 percent of BSVL paid-up capital) has been released on August 17, 2026. Revised security cover stands at 1.26 times outstanding NCDs. No BSVL shares remain under pledge for NCDs.
Removes pledge overhang on the BSVL holding, giving Mankind Pharma more flexibility. NCDs stay outstanding, now backed by company assets at 1.26x cover.