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Suven Life Sciences board approves fund raising up to Rs.400 crore

  • Jun 24, 2022, 02.30 PM
  • DealMoney News Service

Suven Life Sciences stated that its board of directors approved the raising of funds, through issuance and allotment of equity shares having face value of Rs 1 each up to an aggregate amount of Rs 400 crore on rights basis.

The Board of Directors has considered and approved increase in the Authorized Share Capital from Rs. 20 crores divided into 20 crores equity shares of Rs. 1/- each to Rs. 30 crores divided into 30 crores equity shares of Rs. 1/- each and consequential alteration in the Memorandum of Association of the Company, subject to the
approval of shareholders of the Company.

The stock has hit a high of Rs.78.40 and a low of Rs.76.45.