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Granules India gets nod to raise Rs 250 crore

29 Jan 2015 Evaluate

Granules India has received its board’s nod to raise Rs 250 crore by issue of equity shares to qualified institutional buyers (QIB). The company’s board also approved sub-division of the face value of the company’s equity shares from Rs 10 each to Re 1 each.

The company’s net profit increased 8 per cent at Rs 23.6 crore in the third quarter ended December 31, 2014 compared to Rs 22 crore in the year-ago period. The revenue of the Hyderabad-based company increased 13 per cent at Rs 320 crore (Rs 284 crore) in the same period.

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