Jupiter Bioscience to raise $125 million

Jupiter Bioscience Ltd has announced that the Board of Directors of the Company at its meeting held on June 30, 2010, inter alia, have proposed and approved the increase in Authorised Share Capital from Rs.30 Crores to Rs. 70 Crores.

The Board of Directors has proposed Preferential Allotment of Equity Share Warrants to the Promoter / Associates and others.

The Board of Directors have proposed a resolution subject to approval of Share Holders regarding raising of Equity Fund (Preferential Issue, QIP, FCCB's, ADR's, GDR's, etc.,) to the extent of US$125 Millions for funding various business projects of the Company.

The Annual General Meeting of the Company is to be held on August 09, 2010. The Company's GDR Issue for US$ 25 Millions opened June 30, 2010 and the Board discussed and took note of the same.

The stock was trading at Rs.91, up by Rs.0.80 or 0.89%. The stock hit an intraday high of Rs.93.30 and low of Rs.89.95.

The total traded quantity was 177082 compared to 2 week average of 176514.

Source : Equity Bulls

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