Neuland Laboratories has received an approval to issue up to 1675000 fully paid-up equity shares of a face value of Rs 10 each of the company, through qualified institutional placement. The Board of Directors of the company at its meeting held on April 9, 2018, approved the same.
The proceeds from the issuance of Equity Shares would be used for various purposes including but not limited to repayment of debts, business growth, strengthening the balance-sheet and general corporate purposes. This will also enable the company to create financial flexibility to invest in the recently acquired manufacturing facility for manufacturing APIs as well as backward integration.
Neuland Laboratories manufactures active pharmaceutical ingredients for global pharmaceutical companies and provides end-to-end solutions for the pharmaceutical industry for chemistry-related services.
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|---|---|
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| Dr. Reddys Lab | 1310.50 |
| Cipla | 1365.25 |
| Zydus Lifesciences | 939.10 |
| Lupin | 2442.35 |
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