Drug maker Strides Arcolab plans to launch a qualified institutional placement (QIP) issue to raise funds, which it did not quantify.
The company, however, in July had informed the Bombay Stock Exchange (BSE) that it planned to raise $100 million (nearly Rs 456 crore) to partly finance overseas acquisition and other investments.
When contacted a spokesperson said the company has already filed documents for the QIP to Sebi but declined to share details.
As per its documents filed with the National Stock Exchange, the company said it has fixed the floor price for the issue at Rs 423.55 per share.
Shares of Strides Arcolab today closed at Rs 435.30 on the BSE, down 0.29 per cent from its previous close.
