A one-year shareholder lock-in period for Mankind Pharma ends on Monday, November 6, which will free up 70% of its outstanding equity for trading.

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Over 28 crore shares of the company will become eligible for trading once the lock-in period ends, according to Nuvama Alternative and Quantitative Research data.

It needs to be clarified that end of a lock-in period does not mean all shares will get sold in the open market, but will only become eligible to trade.

CNBC-TV18 reported earlier last week that over 180 crore shares of 15 companies will be eligible to trade in the month of November and 85% of those belong only to two companies — LIC and Mankind Pharma.

Sources within the dealing rooms also told CNBC-TV18 that the Street is expecting a large block deal to take place in the stock soon.

In a recent interaction with CNBC-TV18, Mankind Pharma's Vice Chairman and Managing Director Rajeev Juneja said the company was committed to maintaining its double-digit growth and maintaining profitability growth between 24% and 26%.

Mankind Pharma's consolidated net profit for the second quarter rose 21% to ₹511 crore. The revenue from operations increased to ₹2,708 crore from ₹2,425 crore in the year-ago period.

With a substantial reserve of ₹1,727 crore, Mankind Pharma is keen on preserving its cash reserves and evaluating opportunities for mergers and acquisitions (M&A).

Shares of Mankind Pharma made their Dalal Street debut in May this year, after an IPO of over ₹4,000 crore, which was a pure Offer For Sale, meaning the company did not receive any proceeds from the issue. Within six months of going public, the shares are up over 60% from their IPO price.

(With Inputs From Nimesh Shah.)

(Edited by : Amrita)

First Published:Nov 6, 2023 5:38 AM IST