Hester Biosciences has received an approval for issuance of equity shares, and/or equity linked securities and/or securities convertible into equity shares through Qualified Institutional Placement (QIP) or preferential allotment for an amount not exceeding Rs 100 crore. The Board of Directors of the company at their meeting held on August 10, 2018, approved the same.
The Board also approved borrowings as a loan to the extent of $10 million under External Commercial Borrowing (ECB) as per guidelines issued by Reserve Bank of India.
Hester Biosciences is engaged in the manufacturing of poultry vaccines.
