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The non-banking financial company (NBFC) plans to securitise part of its loan portfolio and then sell it to international investors, with major global banks set to meet investors in Hong Kong and Singapore this week to arrange the transaction, said people with knowledge of the matter.

The three were the only ones among the 40 economists and strategists surveyed by Bloomberg who correctly predicted that the benchmark Treasury rate would rise over 4% to end this year near its current level.

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.

The lender has achieved ₹7,500 crore of AUM from ₹5,600 crore as on September 2022. With most customers coming from the lower middle-class background, 85% of its loans are below ₹25 lakh.

Long unwinding refers to the selling of positions or stocks owned for a longer period either to book profit or to exit it in anticipation of impending bearishness

Goldman Sachs Funds, ICICI Prudential Mutual Fund (MF), Kotak Mahindra MF, UTI MF, Nippon India MF, Quant MF, Edelweiss MF, Bandhan MF, Tata MF, ICICI Prudential Life Insurance Company Ltd, SBI Life Insurance Co Ltd, and Max Life Insurance Company are among the anchor investors.

Mankind Pharma is majority-owned by promoters at 76.5% stake, while the public owns the remaining 23.5%. Among the public shareholders, mutual funds own 3.9%, while foreign investors have another 3.9%. Shares of the company delivered 30% returns over a 12-month period, outperforming the Nifty Index, which has given nearly 13% returns during this time.

The Dow Jones Industrial Average rose 37.17 points, or 0.10%, at the open to 36,442.10.

Entities owned by the private equity firm are likely to sell 3.34 crore shares, representing 1.1% stake in the lender. The floor price for the sale has been set at Rs 1,109 a share, a discount of about 2% from the current market price.