Rights issue 2024: Genpharmasec shares to trade ex-rights today
Genpharmasec rights issue 2024: Shares of Genpharmasec Ltd (formerly known as Generic Pharmasec Ltd) will be in focus when the stock market opens on Tuesday (January 09).
The Board of Directors of Genpharmasec Ltd has declared a Rights Issue of equity shares. The record date for the same has been fixed on January 09.
Shares of the company will trade ex-Rights on Tuesday.
Informing the Indian stock market exchanges about rights issue, Genpharmasec said, “We wish to inform you that the Right Issue Committee in its meeting held today, i.e., Wednesday, January 03, 2024, has fixed the record date for the purpose of determining the shareholders who will be eligible to apply for the Rights Equity Shares as Tuesday, January 09, 2024.”
Also Read: Jyoti CNC Automation raises ₹448 crore from anchor investors ahead of IPO
At a board meeting of the company held on October 23, 2023 the issue of fully paid-up equity shares was approved by way of a rights issue for an amount of not exceeding ₹49 crore, it said.
According to the exchange filing, the opening date for the Rights Issue is January 22, 2024 and the closing date is February 09.
Shares of Genpharmasec Ltd closed at ₹8.71, up 9.97 per cent on Monday.
Also Read: Indian government bonds likely to be part of Bloomberg EM index from Sep 2024
The company reported a net profit at at ₹0.01 crore in September quarter, down 87.42% from ₹0.06 crore a year ago. Its Ebitda stood at ₹0.11 crore in Q2 FY24, up 83.33% from ₹0.06 crore a year ago.
Its net sales stood at ₹7.86 crore in September quarter, up 30.6% from ₹6.02 crore a year ago.
In September last year, Genpharmasec had announced that it will acquire a 70 per cent stake in Derren Healthcare Private Limited (DHPL).
The acquisition will be done in a phased manner over a period of one year, it had said. The transaction includes a 70 per cent stake in DHPL covering all manufacturing plants along with land and buildings.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download Finplay News App to get Daily Market Updates.
More
Less
Published: 09 Jan 2024, 06:29 AM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.