Krebs Biochemicals board approves rights issue

Krebs Biochemicals & Industries has informed the exchanges that its board of directors on Monday approved raising of funds by way of an offer and issue of equity shares to the members of the company on rights basis for up to ₹25 crore. The right issue price and entitlement ratio will be decided later. However, the decision is subject to necessary approvals, the company said. Shares of Krebs Biochem jumped 5 per cent at ₹115.90 on the NSE, while it slipped 0.75 per cent at ₹118.75 on the BSE.