The Rs 570-crore public issue of pharmaceutical company had received good response from investors with a subscription of 55.26 times during December 21-26. Qualified institutional buyers (QIBs) bought 116.73 times the portion set aside for them
The promoters Manoj Kumar Lohariwala and his brother Vinay Kumar Lohariwala are diluting their stakes from 67% to 52%. Of the issue proceeds, ₹168 crore would be used toward debt repayment and ₹72 crore for working capital requirements.
Cyril Amarchand Mangaldas advises on CIRP of Sharon Bio-Medicine newkerala.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newkerala.com Daily Mail and Mail on Sunday newspapers.