Wockhardt gains on launching QIP; floor price at Rs 544.02/share

Wockhardt advanced 1.44% to Rs 552 after the company's board of directors has approved the opening of qualified institutional placement (QIP) of equity shares with the floor price of Rs 544.02 per share.

The companys board authorized and declared the opening of the issue on Wednesday, 20 March 2024.

The floor price of Rs 544.02 is almost similar to the previous day's closing price of Rs 544.15 on the BSE.

The company may offer a discount of not more than 5% on the floor price so calculated for the issue.

The company has also informed that a meeting of the committee is scheduled to be held on Tuesday, 26 March 2024 to consider and approve the issue price of the equity shares.

Wockhardt is a global pharmaceutical and biotechnology company engaged into developing, manufacturing and marketing of finished dosage and biopharmaceutical formulations, active pharmaceutical ingredients (APIs) and vaccines.

The pharma company reported a consolidated net loss of Rs 83 crore in Q3 FY24 as compared with net loss of Rs 96 crore posted in Q3 FY23. Total revenue stood at Rs 701 crore in Q3 FY24, rose marginally 0.3% year on year.

Powered by Capital Market - Live News