Small Business

Cipla to raise Rs 676 cr via QIP issue

Drug Firm Cipla today said it will raise Rs 676 crore through the issue of equity shares on institutional placement basis. - Rally prompts promoters to sell treasury stock - Venus Remedies, Korean firm sign out-licensing deal - Cipla to offload 4% stake for Rs 840 crore - Nektar, Astrazenca sign licensing agreement - Zandu Pharma gets shareholder nod for merger with Emami - Cipla denies reports of unrest at Sikkim facility The board of directors of the company have approved the issuance of up to 2.56 crore equity shares at Rs 263.75 per equity share, thus garnering Rs 676 crore, Cipla said in a filing to the Bombay Stock Exchange (BSE). The QIP issue closed on Thursday. Shares of the company were trading at Rs 261.50, up 0.97 per cent on the BSE. The filing further said the price of the QIP issue was fixed at Rs 263.75 per share.

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