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Wednesday, February 08, 2006

Vimta Labs to raise Rs 125cr via domestic, intl mkts

Vimta Labs, a leading provider of multi-disciplinary contract research and testing services said recently that it will raise Rs 125 crore (Rs 1.25 billion) from domestic or international markets and split equity shares of the company in a 1:5 ratio, report agencies.

The shareholders at the extraordinary general meeting, EGM, have approved raising Rs 125 crore (Rs 1.25 billion) from private, domestic or international investors through issue of equity shares or any other instruments or securities including global depository receipts and warrants convertible into equity shares, the company informed the Bombay Stock Exchange.

The EGM also approved splitting of one equity share of the face value of Rs 10 into five equity shares of Rs 2 each.

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