Mankind Pharma board to meet this week to consider fund raising

Mankind Pharma on Tuesday said its board will meet later this week to consider a proposal to raise funds through an issue of securities.

The company's board will meet on September 24 to consider and approve the raising of funds by way of issue of non-convertible debentures, commercial papers, other debt securities or any other security or any combination thereof, the company said in a regulatory filing.

The company, however, did not mention the amount it seeks to raise through the issue of securities.

Mankind Pharma is engaged in developing, manufacturing and marketing a diverse range of pharmaceutical formulations and consumer healthcare products.

The company in an investor presentation had stated that it looks to grow consumer healthcare business through line extensions, new launches, and premiumization, by leveraging existing brand equity, additional distribution models.

Mankind also looks to increase the value of prescriptions in the existing market and increase the share of chronic segment by growing presence in existing therapies, as per the presentation.