Drug firm Elder Pharmaceuticals today said it has closed its qualified institutional placement (QIP) issue for raising nearly $50 million (about Rs 228 crore).
"The last date for the closure of the QIP issue was Sept 21, 2010," the company said in a filing to the Bombay Stock Exchange (BSE).
Elder Pharma in an earlier filing to the BSE had said that its QIP issue was to open with the floor price at Rs 414 per share, thus setting the price band for the issue between Rs 415 and Rs 419.
Besides, the drug firm has recently made an offer to acquire UK-based NeutraHealth Plc for nearly 9.80 million pounds (about Rs 70.60 crore).
Elder Pharma, which currently holds 21.1 per cent stake in NeutraHealth, said it has offered a price of 6.5 pence per share.
Scrips of Elder Pharma were trading at Rs 412.95 per share on the BSE in the afternoon trade, down 1.15 per cent from its previous close.
