FMCG firm Zydus Wellness on Thursday said its board has endorsed plans to raise up to Rs 1,099.98 crore through a blend of issuance of offers to its advertiser Zydus Family Trust on a particular premise and different choices.
In an administrative recording, Zydus Wellness said its board gave its endorsement "to issue, offer and distribute value shares on a special premise" to Zydus Family Trust. The board has agreed endorsement to raise Rs 349.98 crore through issuance of 21,30,000 offers at cost of Rs 1,643.10 per share.
Further, the board has likewise affirmed raising assets up to Rs 750 crore by giving protections of the organization, including value offers (or equal instruments including however not restricted to obligatorily convertible debentures, non-convertible debentures with warrants) through a private position or qualified foundations situations (QIP) to qualified institutional purchasers (QIBs) or a blend thereof.
The organization said its board has chosen to gather an unprecedented comprehensive gathering of the individuals from the organization on September 19, 2020, to look for the endorsement of the individuals for the proposed raising support exercises.
As of quarter finished June 30, 2020, Zydus Family Trust held 4.29 percent stake in Zydus Wellness.
Zydus Wellness offers brands, for example, Complan, Sugar Free, Nutralite and Everyuth.
Portions of Zydus Wellness were exchanging 2.09 percent higher at Rs 1,757.55 each on BSE.
(Just the feature and image of this report may have been revamped by the Business Standard staff; the remainder of the substance is auto-produced from a partnered feed.)
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