Days after a stellar listing on the bourses, Delhi-based Mankind Pharma on Thursday said that the Income Tax Department is conducting a search at some of its premises, plants and subsidiaries.
Representatives of the company and its subsidiaries are cooperating with the I-T officials, Mankind told the BSE.
“This has had no impact on our operational performance,” it added, without giving details.
Also read: Income Tax department raids Gallantt Ispat premises, seizes documents
After falling over 5 per cent, the company’s share price recovered to end the day marginally down, at ₹1,379.65 a piece, on Thursday.
The company said that it is an ethical company and follows the best corporate governance practices.
Mankind Pharma IPO
On Tuesday, Mankind Pharma’s stocks were listed on the bourses at ₹1,300 per share.
It had closed Day-1, at ₹1424.05 on the BSE, up almost 32 percent from the outer limit of the benchmark price it had set.
Mankind Pharma has a presence in the pharmaceutical and consumer healthcare segments and operates about 25 manufacturing sites.