Shasun Pharmaceuticals is locked in 20% upper circuit at Rs 105 on the NSE after the company said it is planning to raise fund by issuing equity shares/warrants to promoters of the company on preferential basis.
The board of directors of the company is scheduled to meet on April 23, 2014, for considering issue of convertible warrants/equity shares on preferential basis to promoters and others subject to the approval of the shareholders, Shasun Pharmaceuticals said in a statement.
Meanwhile on April 16, the company informed the exchanges that Ascent Capital Advisors Private Limited, a private equity investor, has taken a minority stake in Alivira Animal Healthcare.
The company, however, did not disclose the stake or financial details. Alivira Animal Healthcare is a joint venture company between Shasun and Sequent Scientific.
The stock opened at Rs 89 and has seen over two-fold jump in trading volumes. A combined 1.84 million shares already changed hands so far and there are pending buy orders for 789,000 shares on the BSE and NSE at 0955 hours.
The board of directors of the company is scheduled to meet on April 23, 2014, for considering issue of convertible warrants/equity shares on preferential basis to promoters and others subject to the approval of the shareholders, Shasun Pharmaceuticals said in a statement.
Meanwhile on April 16, the company informed the exchanges that Ascent Capital Advisors Private Limited, a private equity investor, has taken a minority stake in Alivira Animal Healthcare.
The company, however, did not disclose the stake or financial details. Alivira Animal Healthcare is a joint venture company between Shasun and Sequent Scientific.
The stock opened at Rs 89 and has seen over two-fold jump in trading volumes. A combined 1.84 million shares already changed hands so far and there are pending buy orders for 789,000 shares on the BSE and NSE at 0955 hours.