Image Source : FILE Piramal Pharma’s Rs 1,050-cr rights subject will get Sebi’s nod
Piramal Pharma has acquired capital markets regulator Sebi’s go-ahead to lift as much as Rs 1,050 crore by way of rights subject of shares. The pharma agency, which filed draft papers with the regulator in March, obtained its commentary letter on July 12, an replace with the Securities and Exchange Board of India (Sebi) confirmed on Tuesday.
In Sebi’s parlance, its observations imply its nod to drift public points, together with IPO and rights subject. Going by the draft papers, Piramal Pharma will subject absolutely paid-up fairness shares of the corporate by means of a rights subject to its present eligible shareholders for an quantity aggregating as much as Rs 1,050 crore. Proceeds of the difficulty will likely be utilised for cost of debt and normal company functions.
Piramal Pharma supplies end-to-end pharma providers to prospects and a portfolio of differentiated pharma merchandise throughout a home and international distribution community. It operates underneath three business verticals – Piramal Pharma Solutions, an built-in contract improvement and manufacturing group (CDMO); Piramal Critical Care, a fancy hospital generics (CHG) business and India shopper healthcare (ICH) business, promoting well-known over-the-counter manufacturers similar to Little’s, Lacto Calamine and I-Pill.
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Source: www.indiatvnews.com
