Zydus Wellness raises Rs 650 crores via qualified institutional buyers route

Published On 2020-09-30 06:02 GMT | Update On 2020-09-30 06:02 GMT

New Delhi: FMCG firm Zydus Wellness on Tuesday said it has raised Rs 649.97 crore through issuance of equity shares to qualified institutional buyers (QIBs).

The qualified institutional placements (QIP) opened on September 23 and closed on September 28.

The finance and administration committee of the company has approved the issue and allotment of 38,46,000 equity shares to eligible QIBs at an issue price of Rs 1,690 per equity share (including a premium of Rs 1,680 per equity share), aggregating to Rs 649.97 crore, Zydus Wellness said in a regulatory filing.

In August this year, Zydus Wellness' board had approved plans to raise up to Rs 1,099.98 crore through a combination of issuance of shares to its promoter Zydus Family Trust on a preferential basis and other options.

It gave its approval to raise Rs 349.98 crore through issuance of 21,30,000 shares at price of Rs 1,643.10 per share to Zydus Family Trust.

Further, the board has also approved raising funds up to Rs 750 crore by issuing securities of the company, including equity shares (or equivalent instruments including but not limited to compulsorily convertible debentures, non-convertible debentures with warrants) through a private placement or QIPs to QIBs or a combination thereof.

Zydus Wellness offers brands such as Complan, Sugar-Free, Nutralite and Everyuth.

Article Source : PTI

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Ruchika Sharma

Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751

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Zydus Wellness raises Rs 650 crores via qualified institutional buyers route

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