Beige Ltd News Today

Equity benchmark indices Sensex and Nifty are expected to start the day flat on March 26, 2024, as global cues...

Beige Ltd., an affiliate of ChrysCapital, holds a total of 2.99% stake in Mankind Pharma. After the sale, the holding will reduce to 0.09%.

RVNL, Zomato, GLT Infra, Dish TV, Power Grid, Punjab National Bank and IREDA saw rise in volumes. HDFC Bank, IRFC, Indus Towers, Reliance Industries, RVNL and IndusInd Bank were a few stocks leading the turnover chart on NSE.

Trends in the GIFT Nifty indicate a positive start for the broader index in India, with a gain of 50.50 points or 0.23 percent.

PE firm ChrysCapitals affiliate entity Beige Ltd was reported to have issued a term sheet via its broker to sell up to 1.16 crore shares of Mankind Pharma at a price range of Rs 2,103.21 to Rs 2,214 per share.

The offer price for the transaction is likely to be around Rs 2,103-2,214 apiece, a discount of up to 5 percent Mankind Pharmas previous close.

Mankind Pharma shares slipped 3.21% to Rs 2141.50 against the previous close of Rs 2212.55 on BSE. Market cap of the firm fell to Rs 87,488 crore in early deals.

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.

For Mankind, this is a strategic investment in the field of treatment of cancer cachexia, amyotrophic lateral sclerosis, and other muscle-wasting disorders.

On the BSE, Kotak Funds India Midcap Fund acquired 2.0 million shares of at an average price of ₹1,832.30 apiece, taking the deal size to ₹372 crore.