Shasun Pharmaceuticals EGM approves preferential allotment to OrbiMed

Shasun Pharmaceuticals Limited has announced that the extraordinary general meeting of shareholders has approved the preferential allotment to Caduceus Mauritius Asia Limited (CAML), a wholly owned subsidiary of OrbiMed Asia Partners. The Company will allot 65,78,947 equity shares at Rs. 76/- per share, aggregating to Rs. 50 crores.

Malabar Capital Advisors (P) Ltd. acted as financial advisors to Shasun on this transaction.

The Shasun Pharmaceuticals Ltd stock was trading at Rs.85, up by Rs.1 or 1.19%. The stock hit an intraday high of Rs.87 and low of Rs.84.

The total traded quantity was 0.56 lakhs compared to 2 week average of 0.56 lakhs.

Source : Equity Bulls

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