Welcure Drugs & Pharmaceuticals board approved bonus issue of shares in a 1:10 ratio.
Approved a 10:1 stock split, changing each ₹10 share into 10 shares of ₹1 each.
Company to raise up to ₹80 crore via qualified institutional placement (QIP) in one or more tranches to fund expansion.
Welcure Drugs & Pharmaceuticals on Monday said its board has approved proposals for a bonus issue of shares and stock split to enhance liquidity and broaden shareholding.
The company also proposes to raise up to ₹80 crore by way of qualified institutional placement (QIP) in one or more tranches to fund expansion plans, the drug firm said in a statement.
“The board has considered and approved the issue of bonus shares in the ratio of 1:10 – one bonus equity share of ₹10 each for every 10 equity shares of ₹10 each – to the eligible equity shareholders," it said.
The board also considered and approved a 10:1 stock split - one equity share of face value of ₹10 each to be split into 10 equity shares of face value of ₹1 each, the company said.
The move is aimed at enhancing liquidity and broadening shareholding following the company’s stellar Q1FY26 financial results, it added.
Welcure last week had announced plans to set up an agro-pharma research laboratory at an investment of ₹70-80 crore. The company will seek the board approval for a QIP issue to raise up to ₹80 crore to fund the expansion plans.
