Welcure Drugs & Pharmaceuticals on Monday said its board has approved proposals for a bonus issue of shares and stock split to enhance liquidity and broaden shareholding.
The company also proposes to raise up to Rs 80 crore by way of qualified institutional placement ( QIP) in one or more tranches to fund expansion plans, the drug firm said in a statement.
"The board has considered and approved the issue of bonus shares in the ratio of 1:10 - one bonus equity share of Rs 10 each for every 10 equity shares of Rs 10 each - to the eligible equity shareholders," it said.
The board also considered and approved a 10:1 stock split - one equity share of face value of Rs 10 each to be split into 10 equity shares of face value of Rs 1 each, the company said.
The move is aimed at enhancing liquidity and broadening shareholding following the company's stellar Q1FY26 financial results, it added.
Welcure last week had announced plans to set up an agro-pharma research laboratory at an investment of Rs 70-80 crore. The company will seek the board approval for a QIP issue to raise up to Rs 80 crore to fund the expansion plans.
The company also proposes to raise up to Rs 80 crore by way of qualified institutional placement ( QIP) in one or more tranches to fund expansion plans, the drug firm said in a statement.
"The board has considered and approved the issue of bonus shares in the ratio of 1:10 - one bonus equity share of Rs 10 each for every 10 equity shares of Rs 10 each - to the eligible equity shareholders," it said.
The board also considered and approved a 10:1 stock split - one equity share of face value of Rs 10 each to be split into 10 equity shares of face value of Rs 1 each, the company said.
The move is aimed at enhancing liquidity and broadening shareholding following the company's stellar Q1FY26 financial results, it added.
Welcure last week had announced plans to set up an agro-pharma research laboratory at an investment of Rs 70-80 crore. The company will seek the board approval for a QIP issue to raise up to Rs 80 crore to fund the expansion plans.
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