Suven Life Sciences gains 4% on receiving approval to raise Rs400 crore via rights issue

13 Oct 2022 , 02:28 PM

Suven Life Sciences gets board’s approval to raise Rs400 crore via rights issue.

The company said the board of directors has approved rights issue size of 7,26,91,239 shares for Rs399.80 crore.

Further, the issue price is Rs55 per share. The rights entitlement ratio is (1:2) one rights equity share for every two shares held by eligible shareholders of the company.

The Record date is October 18, 2022 for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights Issue, the company said.

At around 2:29 PM, Suven Life Sciences Ltd is currently trading at Rs73.90 per share up by Rs3.15 or 4.45% from its previous closing of Rs70.75 per share on the BSE.

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