Shares of Suven Life Sciences were up 2.5% at Rs 206 after the board at its meeting held earlier today approved raising of funds up to $100 million.
The board approved fund raising not exceeding USD 100 million or its equivalent of any other Foreign/ Indian currencies by way of issue of securities to QIPs/ FCCBs/ other modes in accordance with SEBI guidelines and subject to necessary approvals from statutory authorities as may be required, the company said in a release to the stock exchange.
An Extra Ordinary General Meeting of the members of the Company has been fixed for 21st October 2014 to obtain approval from shareholders, the release said.
The stock opened at Rs 199 and touched a high of Rs 209 on the BSE. Over 1.3 million shares were traded on both the stock exchanges so far.
