Shukra Pharmaceuticals board approves rights issue worth Rs19 crore; Stock climbs 3.4%

26 Aug 2022 , 01:40 PM

Shukra Pharmaceuticals Limited has informed to the exchanges that the Board of Directors has considered and approved fund raising proposal by way of offer and issue of equity shares to the existing members of the Company on rights basis (Rights Issue), at such price and right entitlement ratio as may be decided by the Board members, for an amount aggregating up to Rs19 crore, subject to necessary approvals and consent as may be necessary.

The board has also approved appointment of GYR Capital Advisors Private Limited (Merchant Banker) as lead manager to carry out all the obligations with the right issue of equity shares and seek listing permission from BSE platform.

At around 1:38 on Friday, Shukra Pharmaceuticals Limited has Rs209.80 per share higher by Rs6.90 or 3.40% on the BSE. Previosuly, the scrip ended at Rs202.90 per share on the BSE.

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