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Panacea Biotec shines as IndiaRF to invest Rs 992 crore

09 Apr 2019 Evaluate

Panacea Biotec is currently trading at Rs. 202.00, up by 20.85 points or 11.51% from its previous closing of Rs. 181.15 on the BSE.

The scrip opened at Rs. 202.15 and has touched a high and low of Rs. 212.85 and Rs. 200.15 respectively. So far 141170 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 313.50 on 10-Apr-2018 and a 52 week low of Rs. 138.20 on 06-Dec-2018.

Last one week high and low of the scrip stood at Rs. 214.50 and Rs. 179.20 respectively. The current market cap of the company is Rs. 1247.07 crore.

The promoters holding in the company stood at 73.59%, while Institutions and Non-Institutions held 1.46% and 24.94% respectively.

India Resurgence Fund (IndiaRF), promoted by Piramal Enterprises and Bain Capital Credit, along with its affiliates to invest upto Rs 992 crore in Panacea Biotec. The investment proceeds will be used for a one-time settlement with existing lenders, general working capital and growth requirements of the Company.

This investment is structured by way of Non-Convertible Debentures (NCDs) of up to Rs 864 crore and subscription amount of Rs 32 crore towards share warrants to be allotted on a preferential basis. The subscription amount represents 25% of total amount of Rs 128 crore proposed to be raised upon issuance of equity shares against warrants. Subject to exercise of warrants, IndiaRF (along with its affiliates) will collectively end up owning 10.4% stake in the company on a fully diluted basis.

Panacea Biotec is a leading research based Biotechnology Company with established research, manufacturing and marketing capabilities. It is one of the largest vaccine producers and biotechnology companies in India.

Panacea Biotec Share Price

358.00 5.30 (1.50%)
17-Apr-2026 16:59 View Price Chart
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