Lyka Labs raises $5mn via GDRs

Lyka Labs closed the $ 5million global depository receipts (GDRs) issue today.

According to a release issued by Lyka Labs to the BSE today, the committee of directors will meet today to allot 40,00,000 equity shares of Rs 10 each underlying the issued GDRs at a price of $6.25 per GDR. Each GDR represents five equity shares, the release added.