Stocks

Zydus Wellness plans ₹1,100-cr fund-raising

Our Bureau Ahmedabad | Updated on August 27, 2020

The board of Zydus Healthcare, an arm of Zydus Cadila group, has cleared the proposal to raise close to ₹1,100 crore through a mix of options including issuance of shares to its promoters and a combination of private placement or qualified institutional placements (QIPs).

The company informed the exchanges that its board on Thursday approved allotment of shares on a preferential basis to Zydus Family Trust at ₹1,643 a share for ₹349.98 crore. As of June 30, 2020, Zydus Family Trust holds 4.29 per cent stake.

The board has also cleared the proposal to raise ₹750 crore through a private placement or QIP or a combination thereof.

Zydus Wellness shares ended marginally down at ₹1,715 on the BSE.

Published on August 27, 2020

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