Drug maker Strides Arcolab today said it has raised Rs 455 crore through issue of shares to the qualified institutional buyers on a private placement basis.
The company will be issuing 1.07 crore shares of Rs 10 each at a price of Rs 423.55 per share aggregating to Rs 455 crore, Strides Arcolab said in a filing to Bombay Stock Exchange (BSE).
Earlier in July, the company had informed the Bombay Stock Exchange that it planned to raise $100 million (nearly Rs 456 crore) to partly finance overseas acquisition and other investments.
Shares of Strides Arcolab today closed at Rs 424.45 on the BSE, down 0.59 per cent from its previous close.