Hikal Ltd to raise Rs. 125 crores through QIP

The Board of Directors of Hikal Ltd at its meeting held on May 05, 2015, has discussed & approved subject to necessary approvals, raising of funds upto an amount of Rs. 125 crores, by issuing equity shares through qualified institutions placement and / or issue of warrants / equity shares / such other permissible securities on such terms and conditions as may be decided by the Board of Directors and / or Committee of the Board, in accordance with the provisions of Chapter VIII of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 and other applicable laws, subject to approval of the members of the Company.

Shares of HIKAL LTD. was last trading in BSE at Rs.135.5 as compared to the previous close of Rs. 126.9. The total number of shares traded during the day was 7170 in over 712 trades.

The stock hit an intraday high of Rs. 137.8 and intraday low of 130. The net turnover during the day was Rs. 963321.

Source : Equity Bulls

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