 "Drug discovery co SPARC seeks Sebi nod for Rs 250-cr rights issue (spot)")
Sun Pharma Advanced Research Company (SPARC) has rallied nearly 8% to Rs 301 on the BSE ahead of the board meet on March 5, 2016 for the proposed rights issue.
The board of directors of the company will be held on March 05, 2016, to fix the issue price, issue size, rights entitlement ratio, fractional entitlement and record date / book closure dates for determining eligibility of the shareholders to whom the equity shares are to be issued under the proposed Rights Issue of the company, SPARC said in a statement.
The company’s board in March 2016 had approved to raise up to Rs 250 crore through rights issue.
At 09:30 AM, the stock was up 6% at Rs 297 on the BSE. A combined 319,709 shares changed hands on the counter on the BSE and NSE so far.
The board of directors of the company will be held on March 05, 2016, to fix the issue price, issue size, rights entitlement ratio, fractional entitlement and record date / book closure dates for determining eligibility of the shareholders to whom the equity shares are to be issued under the proposed Rights Issue of the company, SPARC said in a statement.
The company’s board in March 2016 had approved to raise up to Rs 250 crore through rights issue.
At 09:30 AM, the stock was up 6% at Rs 297 on the BSE. A combined 319,709 shares changed hands on the counter on the BSE and NSE so far.
