The drug maker said its board on 7 August 2020 approved the qualified institutions placement (QIP) of 80.47 lakh equity shares at Rs 932 each aggregating to approximately Rs 750 crore.
Alembic Pharmaceuticals had launched a QIP issue on 3 August 2020 and closed on 5 August 2020. It had set a floor price of Rs 980.75 per equity share for the QIP issue.
Tata Mutual Fund, HDFC Life Insurance Company, Sundaram Mutual Fund, Bajaj Allianz Life Insurance Company and IDFC Mutual Fund were allotted more than 5% of the equity shares offered in the issue.
Alembic Pharmaceuticals is a vertically integrated research and development pharmaceutical company.
The company reported a 143.7% surge in consolidated net profit to Rs 301.46 crore on 41.4% rise in net sales to Rs 1,341.32 crore in Q1 June 2020 over Q1 June 2019.
The scrip fell 1.92% to Rs 1,060.80 on the BSE. It had jumped 7.60% to end at Rs 1,081.55 yesterday.
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