Zydus Wellness

Shares of Zydus Wellness gained over 4.5% in an otherwise dull market. The board of directors of Zydus Wellness Limited, i.e., Finance and Administration Committee (“Committee”) on September 23, 2020, has approved raising of funds by way of issue of Equity Shares, through a QIP.

The board also approved and adopted the preliminary placement document and dated September 23, 2020, together with the application form, in connection with the QIP.

The board approved the floor price for the QIP, being Rs1,775.85 per Equity Share based on the pricing formula as prescribed under Regulation 176 of the SEBI ICDR Regulations (the “Floor Price”).

The board has decided and passed the following resolutions: (i) Raising of funds by way of issue of Equity Shares, through a QIP; (ii) Approved and authorised the opening of the QIP, on September 23, 2020; (iii) Approved and adopted the preliminary placement document and dated September 23, 2020 together with the application form, in connection with the QIP; and (iv) Approved the floor price for the QIP, being Rs 1,775.85 per Equity Share based on the pricing formula as prescribed under Regulation 176 of the SEBI ICDR Regulations (the “Floor Price”).

The stock is currently trading at Rs1,804, up by Rs85.4 or 4.97% from its previous closing of Rs1,718.60 on the BSE.

The scrip opened at Rs1,706 and has touched a high and low of Rs1,812 and Rs1,701 respectively.

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