Makers Laboratories Ltd Board approves Rights Issue of equity shares

The Board of Directors of Makers Laboratories Ltd at its meeting held on November 10, 2021, has approved the Company's plan to raise further capital. Accordingly, the Board approved the issuance of equity shares of face value of Rs. 10/- each of the Company on rights basis to the eligible equity shareholders of the Company as on the record date (to be notified later), of an Issue size of about Rs. 14.75 crores (Rs. fourteen crores seventy five lacs only) ('Issue'). The proceeds of the issue will be utilized primarily for upgrading / capacity enhancement of the Company's old injectable manufacturing unit situated at Naroda, Ahmedabad.

Further the Board has constituted a 'Committee of Directors' to decide, the other terms and conditions of the issue including Issue period and the record date.

The promoter and promoter group of the Company will collectively subscribe to the full extent of their aggregate rights entitlement. In addition, they will also subscribe to any unsubscribed shares in the Issue.

Shares of MAKERS LABORATORIES LTD. was last trading in BSE at Rs. 214.80 as compared to the previous close of Rs. 209.95. The total number of shares traded during the day was 4027 in over 74 trades.

The stock hit an intraday high of Rs. 214.90 and intraday low of 201.25. The net turnover during the day was Rs. 847167.00.

Source : Equity Bulls

Keywords

MAKERSLABORATORIESLTD INE987A01010 Pharmaceuticals RightsIssue FundRaising