The board of Wockhardt approved rights issue of equity shares to the existing shareholders of the company for an amount not exceeding Rs 1,000 crore.
The objective of the issue is to meet the companys financing needs for repayment of subordinated debt due, financing research and development initiatives, general corporate purposes and/or such other use of process as may be permitted under the applicable laws.
The board also authorised the capital raising committee of the board to decide on the terms and conditions of the rights issue, including the rights entitlement ratio, the issue price, record date, timing of the issue and other related matters.
Wockhardt is a research based global pharmaceutical and biotech company. The company reported a consolidated net profit of Rs 34 crore in Q2 FY22 as against a net profit of Rs 4 crore in Q2 FY21. Sales increased by 21% YoY to Rs 862 crore during the quarter.
Powered by Capital Market – Live News
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.