Strides Arcolab Ltd approves raising of Rs. 1500 crores

The Board of Directors of Strides Arcolab Ltd have approved the proposal to raise long term funds by way of issue of GDRs / ADRs / FCCBs / QIP or such other equity linked instruments as may be permissible for an amount upto Rs. 1,500 crore including a green shoe option.

The fund raising is subject to shareholders' approval and such other statutory approvals as may be required including that of Foreign Investment Promotion Board.

Shares of STRIDES ARCOLAB LTD. was last trading in BSE at Rs.1224.25 as compared to the previous close of Rs. 1238.4. The total number of shares traded during the day was 48502 in over 3021 trades.

The stock hit an intraday high of Rs. 1250 and intraday low of 1220.95. The net turnover during the day was Rs. 59825461.

Source : Equity Bulls

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