Cipla may issue QIP up to $175 mln
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.crackcrack
