Kopran hits the roof after board OKs preferential issue of shares

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Kopran hits the roof after board OKs preferential issue of shares	Share Back
(14:49, 08 Dec 2021)
The company's board approved issuing upto 49,59,999 equity shares on a preferential basis at Rs 255 each, aggregating to Rs 126.48 crore. The company plans to issue 25,59,999 equity shares to 10 public allottees. It proposes to issue 24 lakh equity shares to two promoter group companies i.e. United Shippers and Oricon Enterprises. The proposal is subject to the approval of regulatory/statutory authorities and the shareholders of the company at the forthcoming extra ordinary general meeting. On a consolidated basis, net profit of Kopran rose 2.77% to Rs 17.09 crore on 7.21% rise in net sales to Rs 127.57 crore in Q2 September 2021 over Q2 September 2020. Kopran is an integrated pharmaceutical company manufacturing a large range of products. It manufactures both active pharmaceutical ingredients and finished dosage forms.
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