Gujarat Themis Biosyn Ltd Approves Dual Fundraising: Rs 1,000 Crores Target Through QIP and Preferential Allotment
Gujarat Themis Biosyn Ltd has approved a dual fundraising strategy aimed at expanding its capital base. The company's Board of Directors sanctioned the raising of funds through Qualified Institutions Placement (QIP) and through the preferential allotment of equity shares to Non-Promoters.The approval allows Gujarat Themis Biosyn Ltd to raise up to Rs 1,000 Crores via QIP. This capital infusion will be utilized through public and/or private offerings of equity shares and/or other convertible securities. This issuance is subject to the requisite approval of the company's members and any other statutory requirements.
Additionally, the company has approved raising funds through a preferential issue of equity shares to Non-Promoters via preferential allotment or any combination thereof, in line with applicable provisions of law. The specific issue of these equity shares remains contingent upon obtaining necessary regulatory and statutory approvals, including shareholder consent, which will be sought at an appropriate time.
Fundraising Structure Details
The company provided detailed information regarding both proposed fundraising avenues: Qualified Institutions Placement (QIP) and Preferential Issue/Allotment.The following table outlines the key details of the securities issuance as approved by the Board:
| Feature | Qualified Institutions Placement (QIP) | Preferential Issue / Allotment |
|---|---|---|
| Type of Securities | Eligible Securities including Equity Shares and/or security convertible into equity shares (including warrants). | Preferential Issue of equity shares / warrants in accordance with applicable law. |
| Issuance Type | QIP in line with the provisions of Chapter VI of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. | Preferential allotment. |
| Target Amount | Rs 1000 Crores. | Number of securities to be issued will be determined by the Fund-Raising Committee of the Board. |
The board has established conditions for both proposed transactions. For the QIP, there are no applicable disclosures noted at this stage. Regarding the preferential issue, the determination of the number of securities to be offered and related matters will be decided by the Fund Raising Committee of the Board and subsequently disclosed in due course.
GUJTHEM Stock Price Movement
Closing the trading session on Friday, shares of Gujarat Themis Biosyn Limited edged higher by 0.33%, settling at ₹413.20.The equity experienced a wide intraday range, dipping as low as ₹401.55 but finishing with strong investor interest amidst the trading volume of 137,723 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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