Morepen Laboratories zooms on getting nod to raise over Rs 433 crore
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Morepen Laboratories is currently trading at Rs. 54.15, up by 3.70 points or 7.33% from its previous closing of Rs. 50.45 on the BSE.
The scrip opened at Rs. 51.00 and has touched a high and low of Rs. 54.80 and Rs. 48.45 respectively. So far 1934768 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 55.40 on 23-Apr-2021 and a 52 week low of Rs. 15.50 on 22-May-2020.
Last one week high and low of the scrip stood at Rs. 55.40 and Rs. 43.55 respectively. The current market cap of the company is Rs. 2451.55 crore.
The promoters holding in the company stood at 34.54%, while Institutions and Non-Institutions held 3.57% and 61.89% respectively.
Morepen Laboratories’ board has approved raising over Rs 433 crore through issue of shares to Switzerland's private venture capital firm Corinth Investment Holdings and Liquid Holdings, a promoter group of the company, on preferential basis. The board of directors of the company considered and approved issue and allotment of up to 10.85 crore equity shares on a preferential basis.
Morepen Laboratories is a well-known pharma company having well equipped Research & Development Centre and is all set to seize the Generic revolution in pharma industry, by filing multiple DMFs and COS for new APIs.
