Drug firm Elder Pharmaceuticals today said it has raised Rs 69.6 crore through the issue of shares to qualified institutional buyers (QIBs).
The company's board, in a meeting held today, has allotted 16.79 lakh shares of Rs 10 a piece for cash at an issue price of Rs 415, Elder Pharma said in a filing to Bombay Stock Exchange.
The company's qualified institutional placement (QIP) issue began on September 17 and closed on September 21, it said.
Shares of Elder Pharma today closed at Rs 413.70 on BSE, up 0.25 per cent from its previous close.