Cipla may issue QIP up to $175 mln

Cipla Ltd. | Pharmaceuticals & Drugs | Healthcare | BSE: 500087 | NSE: CIPLA

23 Sep 2009 Evaluate

Drug maker Cipla Ltd plans to sell shares to institutional investors at 263.75 rupees each, near Tuesday's closing price, to raise up to $175 million, according to sources. The base amount of the share sale is $110 million, with an option to raise it to $175 million. The deal is priced at a 0.06 percent discount to Tuesday's closing price of 263.90 rupees. Indian firms have sold shares worth nearly $14 billion so far this year, spurred by a 75 rise in the main share index.crack crack

Peers

Company Name	CMP
Sun Pharma. Inds.	1844.45
Dr. Reddys Labs.	1225.00
Cipla	1390.00
Lupin	2071.70
Zydus Lifesciences	1216.10
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