Hot Pursuit     21-Jun-23
Shilpa Medicare board to mull rights issue
The company's board will consider rights issue of equity shares on Friday, 23 June 2023.
Shilpa Medicare announced that it will hold a board meeting on 23 June 2023. The meeting will consider, among other things, a proposal to raise funds through a rights issue of equity shares. The rights issue will be subject to regulatory and statutory approvals.

Shilpa Medicare is a global brand in manufacturing and supplying of affordable API and formulation globally in different regulated markets.

The company reported a consolidated net loss of 6.62 crore in Q3 FY23 as against a net profit of Rs 9.57 crore posted in Q3 FY22. Net sales declined 3.6% year on year to Rs 262.50 crore during the quarter.

Shares of Shilpa Medicare surged 10.36% to Rs 265.25 on Tuesday, 20 June 2023.

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