Lyka Labs Ltd to increase authorized capital to Rs. 32 crores

The Board of Directors of Lyka Labs Ltd at its meeting held on December 28, 2015, has decided to increase Authorized Capital from existing Rs.26 crores consisting of Equity Capital of Rs.24 crores and Preference Capital of Rs. 2 crores to Rs.32 crores consisting of Equity Capital of Rs.30 crores and Preference Capital of Rs. 2 crores.

The Board has decided to raise funds upto Rs.100 crores by way of issue of shares on Preferential basis/Qualified Institutional Placement (QIP)/convertible debentures and any other securities in one or more combination.

An Extra Ordinary General Meeting of members of the Company is convened on January 21, 2016 to obtain approval of Shareholders to authorize the Board of Directors to alter capital clause of Memorandum of Association of the Company and to decide the mode, size and terms & conditions of issue of capital.

Shares of LYKA LABS LTD. was last trading in BSE at Rs.128.6 as compared to the previous close of Rs. 126. The total number of shares traded during the day was 161330 in over 1833 trades.

The stock hit an intraday high of Rs. 131.3 and intraday low of 127.7. The net turnover during the day was Rs. 20856706.

Source : Equity Bulls

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