Cadila Healthcare to raise US$100 million

Cadila Healthcare Ltd has announced that the Board of Directors of the Company at its meeting held on June 17, 2007, has decided to issue Foreign Currency Convertible Bonds (FCCBs) / ADRs / GDRs or such other foreign currency instrument upto USD 100 Millions with a Green Shoe Option subject to the approval of shareholders at the ensuing Annual General Meeting and such other approvals, permission and sanctions as may be required from statutory authorities.

The stock was trading at Rs.354, up by Rs.7.20 or 2.08%. The total traded quantity was 10068 compared to 2 week average of 12136. The stock hit an intraday high of Rs.360 and low of Rs.345.

Source : Equity Bulls

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