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    HomeNewsBusinessStocksStrides Shasun shares extend rally, up 2% as QIP opens

    Strides Shasun shares extend rally, up 2% as QIP opens

    The pharmaceutical company has fixed floor price at Rs 1344.78 per share and says it may offer a discount of not more than 5 percent on floor price.

    December 18, 2015 / 11:58 IST

    Moneycontrol Bureau

    Shares of Strides Shasun gained another 1.8 percent intraday Friday after QIP committee of the company decided to open qualified institutional placement issue today. The stock surged 2.8 percent in previous session.

    The pharmaceutical company has fixed floor price at Rs 1344.78 per share and says it may offer a discount of not more than 5 percent on floor price.

    Strides Shasun aims to raise funds up to Rs 1,500 crore (USD 225.7 million) through QIP issue, reports Reuters quoting unnamed sources. According to them, the company is selling shares at Rs 1,278 apiece.

    Axis and Jefferies are bookrunners for the deal.At 11:55 hours IST, the scrip of Strides Shasun was quoting at Rs 1,328.00, up Rs 27.30, or 2.10 percent on the BSE.

    Posted by Sunil Shankar Matkar
    first published: Dec 18, 2015 11:58 am

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