Ankur Drugs to consider raising funds overseas

Ankur Drugs & Pharma Ltd has announced that a meeting of the Board of Directors of the Company will be held on April 28, 2007, inter alia, to transact the following:

1. To Consider issuing of Equity Shares and Fully Convertible Bonds / Debentures - on Preferential Basis and Foreign Currency Convertible Bonds or such other similar convertible securities to the extent of USD 30 millions to Institutional Investors, Mutual Funds and FIIs.

2. To Induct Dr. Clifton Zimmermann on the Board.

The stock closed the day at Rs.254.60, down by Rs.5.35 or 2.06%. The stock hit an intraday high of Rs.264.90 and low of Rs.251.60. The total traded quantity was 39841 compared to 2 week average of 50498.

Source : Equity Bulls

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