Vivimed Labs, a supplier of specialty chemicals and pharmaceuticals products, announced that the Foreign Investment promotion Board (FIPB), department of economic affairs, ministry of finance, government of India vide its letter dated May 29, 2015, granted its approval to Vivimed Labs for issuance of 500000 warrants with an option to apply for and be allotted equivalent number of equity shares, of the company to M/s KITARA PIIN 1102, Mauritius.
The proposed issuance of warrants is to be made at an issue price of Rs 315. The FDI inflow by the foreign investor is expected to be Rs 157.5 million approx.
Shares of the company declined Rs 0.4, or 0.16%, to trade at Rs 257.10. The total volume of shares traded was 1,064 at the BSE (9.57 a.m., Monday).