Aanjaneya Lifecare has locked in lower circuit of 5% at Rs 232, nears to its historic low, after the pharmaceutical company said it has deferred the foreign currency convertible bond (FCCB) issue due to unfavorable market conditions. The stock had hit a low of Rs 224 on listing day, May 27, 2011 on BSE.
A combined around 1,386 shares have changed hands on the counter so far and there are pending sell orders for 1.2 million shares on BSE and NSE at 1052 hours.
“We wish to intimate your esteemed exchange that due to unfavorable market circumstances, the company has decided to defer the issue of FCCB till further notice,” Aanjaneya Lifecare said in a regulatory filing.
The pharmaceutical company has proposed to raise up to Rs 405 crore through FCCB issue for the expansion.
Meanwhile, the stock tanked 68% in past one month from Rs 766 on February 8, 2013 after lenders have invoked a large number of pledged shares in the open market.
“Lenders have invokes 1.07 million equity shares or 7.71% stake between February 4, 2013 and February 28, 2013,” the company said in a disclosure made on BSE.
Finaventure Capital Limited, one of the promoter’s, total holding in the company has declined to 26.52% from 34.23% post invocation of pledged shares by lenders.
Promoters hold 46.79% stake in the company as on December 31, 2012, the shareholding pattern data shows.
A combined around 1,386 shares have changed hands on the counter so far and there are pending sell orders for 1.2 million shares on BSE and NSE at 1052 hours.
“We wish to intimate your esteemed exchange that due to unfavorable market circumstances, the company has decided to defer the issue of FCCB till further notice,” Aanjaneya Lifecare said in a regulatory filing.
The pharmaceutical company has proposed to raise up to Rs 405 crore through FCCB issue for the expansion.
Meanwhile, the stock tanked 68% in past one month from Rs 766 on February 8, 2013 after lenders have invoked a large number of pledged shares in the open market.
“Lenders have invokes 1.07 million equity shares or 7.71% stake between February 4, 2013 and February 28, 2013,” the company said in a disclosure made on BSE.
Finaventure Capital Limited, one of the promoter’s, total holding in the company has declined to 26.52% from 34.23% post invocation of pledged shares by lenders.
Promoters hold 46.79% stake in the company as on December 31, 2012, the shareholding pattern data shows.