Ind-Swift Laboratories to raise upto Rs 500 crores

Ind-Swift Laboratories Ltd has announced that the Board of Directors of the Company at its meeting held on August 25, 2010, inter alia, also approved the increase in Authorized Share Capital of the Company from Rs. 35 Crores to Rs. 60 Crores.

The Board approved proposal to raise funds upto Rs. 500 crores through GDR / FCCB / QIP or any other route.

The stock was trading at Rs.128.85, up by Rs.3.65 or 2.92%. The stock hit an intraday high of Rs.130.65 and low of Rs.118.

The total traded quantity was 2.17 lakhs compared to 2 week average of 9.45 lakhs.

Source : Equity Bulls

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