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.More Related News
According to BACL, the biophilic-inspired business park will offer smart workspaces within a vibrant public realm. The project’s most exceptional and breathtaking attribute lies in the Urban Forest, a lush oasis in the centre of the development. This green space will serve as a focal point, seamlessly blending indoor and outdoor spaces throughout the area. The upcoming metro station in Airport City will provide seamless connectivity to the business park from the northern side, ensuring convenient accessibility.