Swiss firm Corinth to invest $100 mn in Morepen
The Hindu
Morepen Group has announced an investment of $100 million (₹750 crore) from private investment entity Corinth Group of Switzerland, out of which $32.50 million will come to Morepen Laboratories Ltd.Fo
Morepen Group has announced an investment of $100 million (₹750 crore) from private investment entity Corinth Group of Switzerland, out of which $32.50 million will come to Morepen Laboratories Ltd. Following shareholder and regulatory approvals, Corinth would be allotted 58.50 million new equity shares on a preferential basis. This shareholding would equate to 9.41% equity stake in the company. As per board approval, the promoter group will be allotted 50 million fresh equity shares at a price determined by SEBI pricing formula for preferential issuances, in lieu of the 98.50 million unsubscribed warrants issued in the last financial year which lapsed due to technical reasons.
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