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Suven Life Sciences plans to raise up to Rs 400 crore through rights issue
New Delhi: The board of Suven Life Sciences Ltd. has approved raising up to Rs 400 crore through issuance of equity shares on a rights basis.Equity shares of face value Rs 1 apiece aggregating up to Rs 400 crore will be issued, the company said in a regulatory filing on Friday. The terms and conditions for such a rights issue to eligible equity shareholders would be decided at a later date by...
New Delhi: The board of Suven Life Sciences Ltd. has approved raising up to Rs 400 crore through issuance of equity shares on a rights basis.
Equity shares of face value Rs 1 apiece aggregating up to Rs 400 crore will be issued, the company said in a regulatory filing on Friday. The terms and conditions for such a rights issue to eligible equity shareholders would be decided at a later date by a duly constituted committee of the board.
Read also: Suven Pharma, CSIR-IICT, NIIST collaborate for COVID drug Molnupiravir
"The board of directors has considered and approved increase in the authorized share capital from Rs 20 crore divided into 20 crore equity shares of Re 1 each to Rs 30 crore divided into 30 crore equity shares of Re 1 each and consequential alteration in the Memorandum of Association of the company."
This would be subject to the approval of shareholders.
Read also: Suven Life Sciences announces initiation of phase 3 trial of Alzheimer's drug
Ruchika Sharma joined Medical Dialogue as an Desk Editor 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