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Morepen to receive Rs 433 crore from Corinth and Promoters

Morepen Laboratories yesterday approved incoming investment of Rs. 433 crore in the Extra-Ordinary General Meeting (EGM) of the company. The members approved the issue and allotment of 58.50 million equity shares for cash to Corinth Investment Holdings AG, Switzerland (www.corinthinvest.com) at Rs.41.60 per share aggregating to RS. 243.36 crore. Shareholders also approved 50 million fully convertible warrants a promoter group company Liquid Holdings at Rs.38 per warrant/ share aggregating up to Rs. 190 crore for cash to be converted into equity within 18 months. This is a milestone for the Company as this approval paves the way to drive exponential growth and create value for all stakeholders. This EGM was the next step for inclusion of Corinth Group, a global private investment Group, headquartered in Switzerland, which announced and extended USD 32.50 million in Morepen Laboratories, out of a total USD 100 million investment in the promoter group.

Holdings at rsCorinth groupCorinth investment holdingsMorepen laboratoriesExtraordinary general meetingLiquid holdingsCapital marketகொரிந்து குழுமேலும் ஆய்வகங்கள்அசாதாரண ஜநரல் சந்தித்தல்மூலதனம் சந்தை

Morepen EGM approves Rs 433 cr incoming investment from Corinth and promoters

New Delhi: Morepen Laboratories Limited (NSE: MOREPENLAB, BSE: 500288), a leading manufacturer of high-quality APIs, Home Diagnostics, Formulations and OTC products, yesterday approved incoming investment of Rs. 433 crore in the Extra-Ordinary General Meeting (EGM) of the company. The members approved the issue and allotment of 58.50 million equity shares for cash to Corinth Investment Holdings AG, Switzerland (www.corinthinvest.com) at Rs.41.60 per share aggregating to Rs. 243.36 crores. Shareholders also approved 50 million fully convertible warrants to a promoter group company Liquid Holdings Private Limited at Rs.38 per warrant/share aggregating up to Rs. 190 crores for cash to be converted into equity within 18 months, within the limits prescribed in SEBI (SAST) Regulations for acquisition of share/ voting rights in a financial year. The issue price of aforesaid securities is derived as per pricing formula prescribed by SEBI in SEBI (ICDR) Regulations.

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Market turns range bound; Nifty hovers above 15,100

The key barometer indices were trading in a narrow range near the day s high in afternoon trade. The Nifty was trading above 15,100 mark. All the sectoral indices on the NSE were in the green. Banks and financial shares were in demand. At 13:20 IST, the barometer index, the S&P BSE Sensex, surged 669.20 points or 1.35% at 50,234.06. The Nifty 50 index jumped 194.55 points or 1.31% at 15,100.60. HDFC Bank (up 2.95%), Housing Development Finance Corporation (HDFC) (up 2.39%) and ICICI Bank (up 2.29%) boosted the indices. In the broader market, the S&P BSE Mid-Cap index rose 0.83%. The S&P BSE Small-Cap index gained 0.77%. Buyers outpaced sellers. On the BSE, 1,968 shares rose and 1,040 shares fell. A total of 149 shares were unchanged.

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Morepen gets shareholders nod to raise ₹433 crore - The Hindu BusinessLine

Morepen gets shareholders nod to raise ₹433 crore - The Hindu BusinessLine
thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.

Corinth groupCorinth investment holdingsMorepen laboratoriesSwitzerland based corinth investment holdingsLiquid holdingsActive pharmaceutical ingredientsManaging director sushil suriகொரிந்து குழுமேலும் ஆய்வகங்கள்செயலில் மருந்து பொருட்கள்நிர்வகித்தல் இயக்குனர் சுஷில் சூரி

Morepen Labs: Morepen gets shareholder nod to raise Rs 433 crore

Morepen Labs: Morepen gets shareholder nod to raise Rs 433 crore
indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.

Corinth groupCorinth investment holdingsCorinth group advisory board christopher pissaridesExtra ordinary general meetingSwitzerland based corinth investment holdingsMorepen laboratoriesLiquid holdingsActive pharmaceutical ingredientsManaging director sushil suriAdvisory board christopher pissaridesகொரிந்து குழுகூடுதல் ஆர்டிநரீ ஜநரல் சந்தித்தல்மேலும் ஆய்வகங்கள்செயலில் மருந்து பொருட்கள்நிர்வகித்தல் இயக்குனர் சுஷில் சூரி