Shares of Mankind Pharma fall over 4.5% in trade on the back of a large block deal, trading at Rs 1835 at the market opening. According to media reports, five private equity funds – Beige Investment, Link Investment Fund, Cairnhill CIPEF, Cairhill CGPE, and Hema CIPEF – are said to have sold their stake in Mankind Pharma via the block deal. The floor price for the deal according to reports was set at INR 1,785.65 per share, representing a 7% discount to Mankind Pharma’s previous day’s closing share price of INR 1,920.05.

The combined stake on offer was said to be to 7.9% worth INR 5,649 crore. The base deal size would be 6.9% at INR 4,935 crore.

Mankind Pharma is the fourth-largest pharmaceutical company in India based on domestic sales. It manufactures popular brands such as Manforce, PregaNews and Unwanted 72. The company recently announced a 21% year-on-year rise in consolidated net profit at INR 511 crore for the second quarter.