Drug firm Lyka Labs has decided to raise funds up to Rs 100 crore by issue of securities.
The board of directors of the company at its meeting held today “has decided to raise funds up to Rs 100 crore by way of issue of shares on preferential basis/qualified institutional placement (QIP)/convertible debentures and any other securities in one or more combination,” Lyka Labs said in a filing to BSE.
Lyka Labs’s core competency is in lyophilization and the company supplies freeze dried drugs.
Shares of Lyka Labs today closed at Rs 128.60 per scrip on BSE, up 2.06 per cent from its previous close.