Jubilant Life plans to raise up to Rs 1,300 cr

Drug firm Jubilant Life Sciences' board will meet on Thursday to consider a proposal to raise about Rs 1,300 crore through issuance of securities.
The meeting of Board of Directors of the company will be held on October 29, 2015 to consider proposal to issue securities which may include equity shares and/or instruments or securities convertible into exchangeable with or otherwise linked to the equity shares of the company, up to an amount of USD 200 million or Rs 1,300 crore approx, Jubilant Life Sciences said in a filing to the BSE.
The company, however, did not provide any details about utilising the funds that it is looking to raise.

Jubilant Life Sciences is engaged in manufacture and supply of APIs, solid dosage formulations, allergy therapy products, radio-pharmaceuticals and life science ingredients.
Shares of Jubilant Life Sciences today closed at Rs 425.25 per scrip on the BSE, up 2.70 per cent from its previous close.