Release of Pledge on the shares of Bharat Serums and Vaccines Limited, wholly owned subsidiary of the Company
MANKIND · price
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Mankind Pharma has released a pledge on 57.31% of the equity shares of its wholly owned subsidiary, Bharat Serums and Vaccines Limited (BSV). Earlier, on January 7, 2025, the company had pledged 95.99% of BSV's shares as security for listed NCDs worth INR 5,000 crores issued in three series. The release happened because the security cover on the NCDs was in excess of the mandatory threshold required under the Debenture Trust Deeds. After this release, around 38.68% of BSV shares remain pledged.
This is a positive development for shareholders — it indicates that Mankind Pharma's security cover on its NCDs was more than sufficient, allowing partial release of the pledge on its key subsidiary's shares. It reflects financial comfort and reduces encumbrance on a strategic asset.