Income tax department raids Mankind Pharma's Delhi office. Details here
1 min read . Updated: 11 May 2023, 10:35 AM IST
PremiumThe income tax department is conducting searches at Mankind Pharma Ltd's office in New Delhi, CNBC-TV18 reported
BENGALURU: India's income tax department is conducting searches at Mankind Pharma Ltd's office in New Delhi, CNBC-TV18 reported on Thursday, citing sources.
The company's shares fell as much as 5.5% on the news, which comes days after the condom maker listed on exchanges with sharp gains.
Further details were not immediately available. Mankind Pharma and the IT department did not immediately respond to Reuters' requests for comment.
Mankind Pharma shares debuted on the Indian stock exchange on Tuesday and surged about 32%, valuing the maker of Manforce condoms at 569.76 billion rupees ($6.97 billion), in a rare instance of a successful domestic public listing this year.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.