Jupiter Bioscience to raise Rs.95 Crores through issue of shares

Jupiter Bioscience Ltd has announced that the Board of Directors of the Company at its meeting held on November 23, 2006, inter alia, has transacted the following:

1. Subject to necessary approvals, the Board has approved plans to raise upto Rs 95 crores by way of debt and fresh issue of equity shares / convertible debentures / convertible preference shares / foreign currency convertible bonds (FCCBs) to Domestic Investors including but not limited to Institutional Buyers, Mutual Funds, Banks, Insurance Companies and Corporate Bodies,

2. Decided to raise the above said Rs 95 Crores to meet the Company's and its Subsidiaries Capital Expansion and Long Term Working Capital requirements.

3. The Board also give approval to enter into 2 technology inlicensing agreements with the University of California, Los Angeles. These two technologies have been evaluated in preclinical trials and are related diagnostics and treatment of Helicobacter pylori (Gastritis & Peptic Ulcers)

The above scheme of Investment will be intimated by way of Notice of the Extra-Ordinary General Meeting which will be held on December 28, 2006.

Source : Equity Bulls

Keywords