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Hyderabad, Jan. 1

Southern Online Bio Technologies Ltd (SBT) will raise up to Rs 19.22 crore through qualified institutional placement (QIP) of its shares. At a recent meeting, the board has approved a proposal to go for a preferential issue of 26.5 lakh warrants to promoters and non-promoters at a price of Rs 42.70 a share. It also gave its nod for a preferential issue of up to 24 lakh shares at the same price. An extraordinary general meeting is being convened on January 28 to consider th e proposals, the company informed the Bombay Stock Exchange.

— Our Bureau

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Southern Online to raise funds

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