Aanjaneya Lifecare Ltd to raise $75 million

The Board of Directors of Aanjaneya Lifecare Ltd at its meeting held on April 02, 2012, has decided to issue securities/Foreign Currency Convertible Bonds to the tune of 75 million USD to Qualified Institutional Buyers (QIBs) [to be identified by the Investment Committee of the Company] through Qualified Institutional Placement (QIP) in tranches over a period of 18 months out of which first tranche would aggregate to 25 million USD to be allocated for ongoing capital expenditure & potential acquisitions.

The board also decided to appoint merchant bankers to oversee the above referred process and further to undertake all such steps and to appoint such other agencies in this regard.

The Aanjaneya Lifecare Ltd stock was trading at Rs.564.95, up by Rs.19.05 or 3.49%. The stock hit an intraday high of Rs.571 and low of Rs.548.

The total traded quantity was 0.47 lakhs compared to 2 week average of 0.76 lakhs.

Source : Equity Bulls

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