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The board of directors of Cadila Healthcare on Wednesday decided to obtain enabling approval from shareholders through postal ballot to raise up to ₹10,000 crore. The funds will be raised through issue of equity shares/ convertible bonds/ debentures via qualified institutional placement or depository receipts. The board will also seek shareholder nod for issue of unsecured or secured redeemable non-convertible debentures/bonds through private placement for up to ₹3,500 crore, subject to the overall borrowing limit of ₹10,000 crore. Shares of Cadila Healthcare edged up 0.1 per cent at ₹1,899.45 on the NSE.
Subex has allotted 73.79 lakh equity shares on conversion of $3 million foreign currency convertible bonds on April 2. The $3 million bonds are part of the $127.72 million, 5.70 per cent, secured convertible bonds due in 2017. Post-conversion, FCCBs aggregating to $78.53 million remain outstanding, the company informed the exchanges. Shares of Subex edged up 1.15 per cent at ₹13.25 on the NSE.
Merrill Lynch picked up 58.01 lakh shares of Housing Development & Infrastructure on April 6 through market purchases. According to a disclosure, the foreign investment firm said, it bought 63.21 lakh shares and sold 5.2 lakh shares of HDIL, making a net purchase of 58.01 lakh shares. After the purchase, Merrill Lynch’s stake in the company rose to 7.98 per cent from 6.59 per cent. Shares of HDIL jumped 3.93 per cent at ₹133.60 on the BSE on Wednesday.
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