Lyka Labs to raise funds upto Rs 100 crore

Lyka Labs has decided to raise funds upto Rs 100 crore by way of issue of shares on Preferential basis/Qualified Institutional Placement (QIP)/convertible debentures and any other securities in one or more combination. The company has also decided to increase Authorized Capital from existing Rs 26 crore consisting of Equity Capital of Rs 24 crore and Preference Capital of Rs. 2 crore to Rs 32 crore consisting of Equity Capital of Rs 30 crore and Preference Capital of Rs 2 crore.

The board of company at its meeting held on December 28, 2015 has approved for the same. An Extra Ordinary General Meeting of members of the Company is convened on January 21, 2016 to obtain approval of Shareholders to authorize the Board of Directors to alter capital clause of Memorandum of Association of the Company and to decide the mode, size and terms & conditions of issue of capital.

Lyka Labs is engaged in the manufacture of pharmaceutical products. It also manufactures Veterinary products including injections, powders, creams and suspensions. The company offers various surgical disposables, such as syringes, surgical blades, cotton crepe bandage and first aid kits.