Shasun Pharmaceuticals to issue 6578947 shares at Rs.76

The Board of Directors of Shasun Pharmaceuticals Ltd at its meeting held on February 27, 2012, decided to issue and allot up to 65,78,947 equity shares of the Face value of Rs. 2/- for cash at a price of Rs. 76/- per share (including a premium of Rs. 74/- per share) aggregating to about Rs. 50 crores, being the price not less than the price determined in accordance with the SEBI Guidelines, to M/s. Caduceus Asia Mauritius Limited, a Company incorporated under the laws of Republic of Mauritius and having its registered office at 608, St James Court, St Denis Street, Port Louis, Mauritius and subject to the approval of the Share holders.

The Extra-ordinary General Meeting is being convened on March 22, 2012 to obtain the requisite approval of Shareholders.

The Shasun Pharmaceuticals Ltd stock closed the day at Rs.80.05, down by Rs.7.95 or 9.03%. The stock hit an intraday high of Rs.89.30 and low of Rs.79.

The total traded quantity was 3.02 lakhs compared to 2 week average of 3.25 lakhs.

Source : Equity Bulls

Keywords