Suven Life Sciences Ltd approves raising $100 million

The Board of Directors of Suven Life Sciences Ltd at its meeting held on September 22, 2014, has approved the amendment of Articles of Association in line with Companies Act, 2013.

The Board approved fund raising not exceeding USD 100 million or its equivalent of any other Foreign/ Indian currencies by way of issue of securities to QIPs/ FCCBs/ other modes in accordance with SEBI guidelines and subject to necessary approvals from statutory authorities as may be required and.

The Board has convened an Extra Ordinary General Meeting of the members of the Company to be held on October 21, 2014 for obtaining approval of members.

Shares of SUVEN LIFE SCIENCES LTD. was last trading in BSE at Rs.188.8 as compared to the previous close of Rs. 194.1. The total number of shares traded during the day was 157205 in over 4329 trades.

The stock hit an intraday high of Rs. 198.5 and intraday low of 185.25. The net turnover during the day was Rs. 29789063.

Source : Equity Bulls

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