India, July 22 -- image credit- shutterstock

Kilitch Drugs Limited, BSE and NSE listed, a leading pharmaceutical company specialising in the manufacturing and distribution of high-quality Parenteral, Injectables, Oral Solids, and Effervescent formulations, has received approval from board to raise around Rs 49.92 crore via rights issue.

In its board meeting, the Board of Directors finalised the Rights Issue of 13,98,463 fully paid-up equity shares of face value Rs 10 each at an issue price of Rs 357 per share (including a premium of Rs 347 per share). Under this Rights Issue, eligible shareholders will receive 2 Rights Equity Shares for every 23 fully paid Equity Shares held.

The issue is expected to raise Rs 4,992.51 lakh (Rs49.92 cro...