Claris Injectables allots preference shares to Claris Lifesciences
Claris Lifesciences (CLL) announced that the Company has been allotted 4,840,000 numbers of 0.1% Non Cumulative Redeemable Preference Shares of Rs. 1,000/- each, at par, by Claris Injectables (CIL), its wholly owned subsidiary on 26 December 2015. The money raised from the preference shares has been used by CIL to repay its outstanding due to CLL.This does not affect the holding structure of CIL nor does it lead to any dilution of CLL's holding in CIL, the payable of CIL to CLL has been replaced by preference shares via this transaction resulting into an improvement in the net worth of the material subsidiary; CIL; on a standalone basis. This will provide a clear and fair picture of the Standalone Financials of CIL to its Lenders.
Powered by Capital Market - Live News
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app