Latest news with #FundRaisingCommittee
Time of India
an hour ago
- Business
- Time of India
Biocon shares in focus after launching QIP at floor price of Rs 340.20
Biocon shares: The decision comes after receiving approvals from the Board of Directors in April and from shareholders through a postal ballot earlier this month. On June 16, the Fund Raising Committee approved the issue's opening, set the floor price, and finalized the preliminary placement document dated the same day. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Biocon share price performance The shares of Biocon are expected to be in focus on Tuesday, June 17, after the company opened its Qualified Institutions Placement (QIP) issue on Monday, June 16. The company has set the floor price for the QIP at Rs 340.20 per equity share.'We wish to inform you that pursuant to the approval accorded by the Board of Directors of the Company (the 'Board'), at its meeting held on April 23, 2025, and the shareholders of the Company, pursuant to the special resolution passed through Postal Ballot on June 04, 2025, the Fund Raising Committee (the 'Committee') has at its meeting held today i.e. Monday, June 16, 2025, inter alia, passed the following resolutions: a. Authorizing the opening of the Issue today, i.e. Monday, June 16, 2025,' the company said in a regulatory decision follows approvals from the Board of Directors in April and shareholders via a postal ballot earlier this month. The Fund Raising Committee, in its meeting held on June 16, approved the opening of the issue, the floor price, and the preliminary placement document dated the same informed that the company will determine the issue price in consultation with the Book Running Lead Managers appointed in relation to the the past year, the Biocon stock has gained 6.77%, while it is up 1.03% over the last 6 months. In the most recent 3-month period, the stock has risen by 10.65%, and over the past 1 month, it is up 5.24%. However, on a year-to-date (YTD) basis, the stock has declined by 3.12%. Biocon shares closed 0.5% higher at Rs 357.30 on the BSE on Monday.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Mint
9 hours ago
- Business
- Mint
Biocon shares in focus after board opens up QIP fundraising on 16 June, sets floor price at ₹340.20/share
Biocon shares will be in focus of stock market investors after the company's board of directors announce the opening of the QIP (Qualified Institutional Placement) fundraising on 16 June 2025, according to an exchange filing. 'The Fund Raising Committee has at its meeting held today, i.e. Monday, June 16, 2025, authorizing the opening of the issue,' said Biocon in the BSE filing. The pharma company also approved the floor price of the QIP issue to be at ₹ 340.20 per equity share. Biocon disclosed that the company has the ability to discount the offer further to not more than 5 per cent on the floor price of the QIP issue. 'The company may, at its discretion, offer a discount of not more than 5% on the floor price for the issue,' said Biocon in the exchange filing. The firm will decide the issue price after consultation with the book-running lead managers appointed in relation to the case. Biocon shares closed 0.52 per cent higher at ₹ 357.30 after Monday's stock market session, compared to ₹ 355.45 at the previous stock market close. The company announced the outcome of its board meeting after the market operating hours on 16 June 2025. Shares of the pharmaceutical company have given investors more than 637.35 per cent since its listing in the Indian stock market in 2004. However, the shares lost 6.37 per cent in the last five years. In the last one-year period, the stock has gained 8.71 per cent, and is trading 4.31 per cent higher in the last five stock market sessions. Biocon shares hit their 52-week high level at ₹ 404.60 on 21 January 2025, and the 52-week low level was at ₹ 290.80 on 3 March 2025, according to data collected from the BSE website. The pharma company's market capitalisation (M-Cap) was at ₹ 42,897.44 crore as of the stock market close on Monday, 16 June 2025.
Mint
12 hours ago
- Business
- Mint
Biocon shares in focus after board opens up QIP fundraising on 16 June, sets floor price at ₹340.20/share
Biocon shares will be in focus of stock market investors after the company's board of directors announce the opening of the QIP (Qualified Institutional Placement) fundraising on 16 June 2025, according to an exchange filing. 'The Fund Raising Committee has at its meeting held today, i.e. Monday, June 16, 2025 authorizing the opening of the issue,' said Biocon in the BSE filing. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
14 hours ago
- Business
- Time of India
Biocon sets floor price of Rs 340.2 per share for Rs 4,500 cr QIP
Biotechnology firm Biocon Ltd on Monday said it has set the floor price of Rs 340.2 per equity share for its qualified institutions placement to raise Rs 4,500 crore. The Fund Raising Committee of the company at its meeting held on June 16, 2025 authorised the opening of the issue (qualified institutions placement) and approved the floor price for the issue at Rs 340.2 per equity share, Biocon Ltd said in a regulatory filing. On April 23, 2025 the company's board had approved raising the amount through issue of securities. The company's board approved to raise the capital by way of issuance of any instrument or security, including shares, non-convertible debt instruments along with warrants or any other convertible securities by way of qualified institutions placement or rights issue etc.
