Strides Pharma Science on Monday announced that the company's board will meet on 10 February 2022 to consider fund raising.
In an exchange filing the company said, the Board of Directors will consider a proposal for fund raising on 10 February by way of issue of equity shares/ convertible warrants and/or any other instruments through preferential issue on a private placement basis, subject to such regulatory or statutory approvals.On the same day, the company will announce its financial results for the quarter and nine months ended 31 December 2021.
Shares of Strides Pharma were trading 0.63% higher at Rs 392.05 on BSE.
Strides Pharma Science is a global pharmaceutical company. The company mainly operates in the regulated markets and has an 'in Africa for Africa' strategy along with an institutional business to service donor‐funded markets. The company focuses on difficult to manufacture products that are sold in over 100 countries.
The company reported a consolidated net loss of Rs 162.55 crore in Q2 FY22 as against a net profit of Rs 80.94 crore in Q2 FY21. Revenue from operations during the quarter fell by 9.08% YoY to Rs 721.47 crore.
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