Jupiter Bioscience clarifies on news item regarding Ranbaxy tie-up and QIP issue

With reference to the news item appearing in a leading news portal titled "Jupiter Bio may raise up to Rs 100 Cr via QIP, exploring long-term supply contract with Ranbaxy", Jupiter Bioscience Ltd has clarified to BSE that the Company propose to raise an amount upto Rs 100 Crores through Private Placement of Equity Shares under QIP route for which the Company has already taken the approval of the share holders at an Extra Ordinary General Meeting held on January 25, 2007.

Further the Company has informed that, the Company entered into a Confidentiality Agreement with M/s. Ranbaxy Laboratories Ltd to discuss business alliance.

Source : Equity Bulls

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