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.
