Zydus Wellness to allot 21.22 lakh shares worth Rs349.9cr to Zydus Family Trust

The price of each of each equity shares is Rs1,649.

Sep 21, 2020 11:09 IST India Infoline News Service

Zydus Wellness
Zydus Wellness Limited has passed a special resolution for approval of issue and allotment of 21.22 lakh equity shares worth Rs349.9cr to Zydus Family Trust on a preferential issue basis.

“With regard to raising of funds / capital inter alia, through issue of equity shares of the company on a preferential issue basis, the Finance and Administration Committee of the Board of Directors of the company at their meeting held today, passed a resolution to allot Equity Shares on a preferential issue basis,” company informed the exchanges on Saturday.

It further added that the company will allot 21.22 lakh equity shares to Zydus Family Trust at a price of Rs1,649/- per Equity Share (including premium of Rs1,639/- per Equity Share) worth Rs349.9cr.

Zydus Wellness Ltd is currently trading at Rs1,870, down by Rs32.2 or 1.69% from its previous closing of Rs1,902.20 on the BSE.

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