Delhi-based pharmaceutical leader Mankind Pharma has successfully completed the acquisition of Bharat Serums and Vaccines (BSV) for Rs 13,768 crore. This acquisition, funded through a combination of internal accruals and external debt, involved non-convertible debentures (NCDs) and commercial papers. The deal highlights Mankind Pharma’s strategic expansion into women’s health and fertility drug markets.
Rajeev Juneja, Vice Chairman and Managing Director of Mankind Pharma, emphasized the importance of this acquisition, stating that BSV’s niche R&D platforms and its specialized portfolio—including fertility drugs, post-pregnancy therapies, and treatments for animal bites like snake venom antiserum and equine rabies immunoglobulin—align with Mankind’s goal of entering high-barrier sectors.
This EBITDA margin-accretive acquisition is expected to keep Mankind Pharma’s net debt-to-EBITDA ratio below two times by FY26, showcasing financial discipline and ensuring sustainable growth. The acquisition may also be followed by an equity raise to retire part of the debt, a move that has been approved by Mankind Pharma’s shareholders.
Mankind Pharma’s stock reacted to the news, closing at Rs 2,529.80 on the Bombay Stock Exchange (BSE), down by 1.46% following the post-market announcement.
Key Highlights:
- Mankind Pharma acquires Bharat Serums and Vaccines (BSV) for Rs 13,768 crore.
- The acquisition was funded via internal accruals, NCDs, and commercial papers, with potential equity raise plans.
- This deal strategically expands Mankind Pharma’s presence in women’s health and fertility markets.