Hester Biosciences plans to raise Rs. 75 crore

Hester Biosciences Ltd has informed BSE that the board of directors of the company at its meeting held on June 29, 2016, has decided to obtain enabling approvals, from the shareholders for issuance of equity shares.

Jun 29, 2016 11:06 IST India Infoline News Service

Hester Biosciences
Hester Biosciences Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 29, 2016, has decided to obtain enabling approvals, from the shareholders for issuance of equity shares, and/or equity linked securities and/or securities convertible into equity shares through Qualified Institutional Placement (QIP) or preferential allotment for an amount not exceeding Rs. 75 crore. 

The scrip opened at Rs. 778 and has touched a high and low of Rs. 787 and Rs. 765.35 respectively. So far 5104(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 651.54 crore.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 849 on 14-Jul-2015 and a 52 week low of Rs. 337 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 823.9 and Rs. 670.1 respectively.
The promoters holding in the company stood at 54.07 % while Institutions and Non-Institutions held 1.97 % and 43.97 % respectively.
The stock is currently trading above its 50 DMA.

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