Moneycontrol
Feb 27, 2017 11:47 AM IST | Source: Moneycontrol.com

Granules India rises 3% on stake increase by promoter

Post the conversion of preferential warrants, held by the promoter Tyche Tech, into equity, the stake now stands at 11.75 percent.

Granules India rises 3% on stake increase by promoter
Shares of Granules India rose over 3 percent intraday after the promoter increased its stake in the company.

The healthcare major's promoter, Tyche Tech, increased its stake to 11.75% after the conversion of its warrants into equity shares.

“Allottee of preferential warrants, Tyche Tech has exercised its right for conversion of 74,83,546 warrants into equal number of equity shares of the face value of Re 1 each fully paid-up of the company and paid balance 75 percent of these warrants today," the company told exchanges in a notification last week.

Earlier last week, a report indicated that World Bank's subsidiary IFC had plans to invest Rs 318 crore in the pharmaceutical company.

The stock has seen positive movements in the recent past, posting a rise of over 17 percent in the past one month. At 11:34 hrs, the stock was quoting at Rs 132.00, up Rs 3.35, or 2.60 percent on the BSE. It touched an intraday high of Rs 133.00 and an intraday low of Rs 129.80.
Sections
Follow us on
Available On