Lyka Labs Ltd approves preferential issue to IPCA Laboratories Ltd

The Board of directors of Lyka Labs Ltd at its meeting held today, i.e., Jan 21, 2023 has approved the raising of funds upto Rs. 100 Crores by issuing, offering and allotting securities of the Company to Ipca Laboratories Limited ('Promoter Group') by way of preferential issue.

The board approved allotment of upto 20,00,000 Equity Shares of Face value of Rs. 10/- each for cash at a price of Rs. 139.50 per Equity Share, including premium of Rs. 129.50 per Equity Share; and upto 50,00,000 convertible warrants with right to the warrant holder to apply for and be allotted One (1) Equity Shares of Face value of Rs. 10/- each of the Company for each Warrants within period of Eighteen (18) months from the date of allotment of warrants at the price of Rs. 139.50 per warrant each convertible into or exchangeable for 1 (one) Equity Share of face value of Rs. 10/- each at premium of Rs. 129.50 per Equity Share.

Shares of Lyka Labs Limited was last trading in BSE at Rs. 148.15 as compared to the previous close of Rs. 151.55. The total number of shares traded during the day was 9709 in over 373 trades.

The stock hit an intraday high of Rs. 152.70 and intraday low of 146.75. The net turnover during the day was Rs. 1441405.00.

Source : Equity Bulls

Keywords

LykaLabs INE933A01014 PreferentialIssue PromoterGroup INR100Crores FundRaising IPCALaboratories