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Granules India set for another equity dilution
Another equity dilution for Granules India is on the cards. CNBC-TV18 learns that after Ridgeback Capital, Granules India may issue another 14.95% stake to ISP Investor on a preferential basis.
Another equity dilution for Granules India is on the cards. CNBC-TV18 learns that after Ridgeback Capital, Granules India may issue another 14.95% stake to ISP Investor on a preferential basis.
Sources say that the company will raise USD 5 million via allotting nearly 20 lakh shares at Rs 105 per share. After the preferential allotment to ISP Investor, the promoters' stake will come down by 4%. The company is looking for various options to raise another USD 10 million.
The allotment will be done to healthcare funds, Ridgeback Capital Investment being one. ISP (International Specialty Product) Investo supplies APIs. The funds are needed for a Chinese acquisition and on-going expansion.
CNBC-TV18 DISCLAIMER:
This information has not been provided to the stock exchanges, and is source-based.
Sources say that the company will raise USD 5 million via allotting nearly 20 lakh shares at Rs 105 per share. After the preferential allotment to ISP Investor, the promoters' stake will come down by 4%. The company is looking for various options to raise another USD 10 million.
