Suven Life raises Rs 200 crore through QIP

Written By Unknown on Rabu, 03 Desember 2014 | 23.25

The offering was for 1,04,53,690 equity shares of face value of Rs 1 per equity share at a price of Rs 191.32 per share.

Pharmaceuticals firm  Suven Life Sciences Ltd Wednesday said it has raised Rs 200 crore through Qualified Institutional Placement (QIP) route to fund its clinical development programme and capital expenditure.

The offering was for 1,04,53,690 equity shares of face value of Rs 1 per equity share at a price of Rs 191.32 per share.

Post issue the promoters holding will be over 59 percent as against 64.76 per cent on September 30, 2014.

In a BSE filing, Suven Life Sciences said, "It has concluded its Rs 200 crore fund raising exercise through the Qualified Institutional Placement (QIP) process."

The funds raised will be effectively deployed to fund the clinical development programme, capital expenditure and for general corporate purposes, it added.

Suven Life Sciences Chairman Venkat Jasti said: "One of the strategic objectives of this deal was to get the right set of long-term investors of high credibility and the willingness to back the long-term business plan of our company."

"The response to this QIP issue is a testimony to Suven's growth oriented financial performance and confidence of the investors in Suven's unique business model in CRAMS (contract research and manufacturing services) and NCE (new chemical entity)," the company said.

Anand Rathi Advisors Ltd acted as the sole global co-ordinator and book running lead manager for this QIP.

Shares of the company rose 5.42 percent to end at Rs 219.85 apiece on the BSE.

Suven Life Sci stock price

On December 03, 2014, Suven Life Sciences closed at Rs 219.85, up Rs 11.30, or 5.42 percent. The 52-week high of the share was Rs 236.50 and the 52-week low was Rs 65.10.


The company's trailing 12-month (TTM) EPS was at Rs 10.99 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 20. The latest book value of the company is Rs 22.64 per share. At current value, the price-to-book value of the company is 9.71.


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