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Zydus Wellness to raise Rs 2,575 cr through share sale to investors

Press Trust of India  |  New Delhi 

Thursday said it is planning to raise Rs 2,574.99 crore through issue of shares on a preferential basis to fund the acquisition of Heinz India.

The Zydus group firm's board Thursday approved issuing equity shares of face value of Rs 10 each on a preferential basis to Cadila Healthcare, True North, and Zydus Family Trust, said in a filing to the BSE.

The board has also given its nod to raise debt by issuing listed, secured, redeemable, non-convertible debentures on a private placement basis for an amount up to Rs 1,500 crore anytime within a year from the date of passing the special resolution, it added.

The company plans to issue 72,35,890 shares to for Rs 999.99 crore, 7,23,589 shares to for 99.99 crore, 85,02,170 shares to for Rs 1,174.99 crore and 21,70,767 shares to for Rs 299.99 crore, said.

The fund raise is for funding the acquisition of the entire shareholding of Heinz India Pvt Ltd, it added.

The issue price of equity shares to be issued to the investors is Rs 1,382, it added.

Shares of Zydus Wellness Thursday closed at Rs 1,238.05 per scrip on the BSE, up 1.08 per cent from the previous close.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, December 06 2018. 20:05 IST