Shilpa Medicare has received its board's approval for raising funds up to Rs 175 crore by issuing equity shares on preferential basis to TA FII Investors, Mauritius at a price of Rs 570 per share. The Board of Directors at their meeting held on December 01, 2016, has also proposed to increase the investment limit for FIIs'/FPIs and registered foreign investors to 40 percent from the existing limit of 30 percent, subject to approval by shareholders. The company's extra ordinary general meeting (EGM) will be held on December 26, 2016.
Shilpa Medicare produces and exports consistently high-quality Active Pharmaceutical Ingredients Fine Chemicals, intermediates, herbal products and speciality chemical products using sophisticated technology, meticulously following international specifications.
