Share Market News: Remedium Lifecare Shares Gain As Board Approves Fund Raising via FCCBs

Share Market News: Remedium Lifecare shares gained on Thursday as the company has informed exchanges that its board has decided to raise funds via foreign currency convertible bonds (FCCBs). The stock opened flat at Rs 9.53 but gain over 1 per cent to touch the intra-day high of Rs 9.69. Last seen, the counte was trading at Rs 9.64 on the BSE. The counter had closed at Rs 9.53 in the last trading session.
The decision was taken during the meeting held on September 5, 2024.
“Raising of funds by the Company up to 25 million USD through issue of eligible securities by way of Foreign Currency Convertible Bonds (“FCCBs”), private placement, rights issue, preferential issue, Follow-on public offering (“FPO”), Qualified Institutions Placement (“QIP”), Global Depository Receipts (“GDR”), American Depository Receipts (“ADR”), or through any other permissible mode,” the company said in an exchange filing.
The development comes after the board of Remedium Lifecare approved the allotment of bonus shares to eligible shareholders around 2 months back.
In a ratio of 3:1, the company had declared a bonus issue for which the record date was 6th July 2024.
Meanwhile, the 52-week high of the stock is Rs 40 and the 52-week low of the counter is Rs 8.37. The market cap of the company is Rs 389 crore.
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)