Aanjaneya Lifecare has locked in lower circuit of 20% at Rs 455 on BSE for second day in a row with no buyers on the counter after the pharmaceutical company said that the international investors are cautious due to wide fluctuation in the market price of scrip.
The company, which had got the government approval for raising up to Rs 405 crore through foreign currency convertible bonds (FCCB) issue, is in dialogue with international bankers for raising resources for the expansion.
“In order to achieve the growth plans of the Company, we are in dialogue with our International Bankers for raising resources for the expansion through FCCB. The international investors are cautious due to wide fluctuation in the market price of our scrip,” Aanjaneya Lifecare said in a regulatory filing.
Meanwhile, the promoters are continuously reducing their stake in the company during past one year. Total promoters holding has declined by 10.72 percentage points to 46.79% in December 2012 from 57.51% at the end of March 2012 quarter, the BSE data shows.
The stock opened at Rs 455 and has seen a combined 45,825 shares changing hands on the counter so far. There are pending sell orders for 340,415 shares on BSE and NSE.
The company, which had got the government approval for raising up to Rs 405 crore through foreign currency convertible bonds (FCCB) issue, is in dialogue with international bankers for raising resources for the expansion.
“In order to achieve the growth plans of the Company, we are in dialogue with our International Bankers for raising resources for the expansion through FCCB. The international investors are cautious due to wide fluctuation in the market price of our scrip,” Aanjaneya Lifecare said in a regulatory filing.
Meanwhile, the promoters are continuously reducing their stake in the company during past one year. Total promoters holding has declined by 10.72 percentage points to 46.79% in December 2012 from 57.51% at the end of March 2012 quarter, the BSE data shows.
The stock opened at Rs 455 and has seen a combined 45,825 shares changing hands on the counter so far. There are pending sell orders for 340,415 shares on BSE and NSE.