Mankind Pharma Limited has pledged 39.68 per cent of its equity stake in its fully-owned subsidiary Bharat Serums and Vaccines Limited (BSV) to secure non-convertible debentures (NCDs) totalling ₹5,000 crores. This decision comes under SEBI’s Listing Obligations and Disclosure Requirements Regulations, 2015, with Catalyst Trusteeship Limited assigned as the common security trust.