The shares of SMS Pharmaceuticals surged 12.08 per cent and are trading at ₹ 146.60 on the Bombay Stock Exchange shortly before the closing of trading hours on Friday. The board of the Hyderabad-based company approved raising of funds through Issue of convertible equity warrants to the Promoters/Promoters Group by issuing up to 90 lakh warrants convertible in one or more tranches to equity shares of ₹1 each of the company at an issue price of ₹127 including premium of ₹126) for each warrant, aggregating to ₹114.30 crore by way of preferential issue. The drugmaker posted an eight per cent increase in total revenue at ₹161 crore in the third quarter ended December 31, 2023 against ₹149 crore in the same period last year. The net profit more than doubled to ₹12.29 crore ( ₹5 crore).
SMS Pharma to raise ₹114 crore through warrants issue
Published on
February 9, 2024 11:09
Tags
This is a Premium article available exclusively to our subscribers.
Subscribe now to and get well-researched and unbiased insights on the Stock market, Economy, Commodities and more...
You have reached your free article limit. Subscribe now to and get well-researched and unbiased insights on the Stock market, Economy, Commodities and more...
You have reached your free article limit. Subscribe now to and get well-researched and unbiased insights on the Stock market, Economy, Commodities and more...
TheHindu Businessline operates by its editorial values to provide you quality journalism.
You are reading {{data.cm.views}} out of {{data.cm.maxViews}} free articles.
This is your last free article.