3:1 Bonus Share: Pharma Stock Issues Bonus Share Allotment, Fundraising Update

Small cap pharmaceuticals sector company Remedium Lifecare Ltd shares witnessed decline 3.37% today and slipped over 48% in last 1-year. However, Remedium Lifecare shares offered attractive returns of 1476% in last 2-years. Remedium Lifecare issued update pertaining to 3:1 bonus share and fundraising. The company has a market capitalisation of 775.35 crore. Check details below:

Remedium Lifecare Gives Bonus Share Update: As per the BSE filing of Remedium Lifecare issued as on July 8, "We wish to inform you that the Board of Directors of the Company at their Meeting held today i.e., Monday, gth July, 2024 has allotted 30,24,00,000 Equity Shares of Face value of Re. 1/- each as fully-paid up Bonus Equity Shares in the ratio of 3:1 i.e., 3 (Three) Equity Shares of Re. 1/- each fully paid up for every 1 (One) existing Equity Share of Re. 1/- each fully paid up held by the Members in the Company whose names appeared in the Register of Members/List of Beneficial Owners as on 6th July, 2024 being the Record Date fixed for this purpose."

Remedium Lifecare Issues Fundraising Update: The BSE filing added, "Approved raising funds by way of issuance of such number of equity shares having face value of Re 1 each of the Company and/or other eilgtble securities or any combination thereof (hereinafter referred to as "Securities"), for an aggregate amount not exceeding Rs 200 Crores by way of qualified institutional placement (QIP) or other permissible mode in one or more tranches and in accordance with the applicable laws, subject to the receipt of the necessary approvals including approval of the Members and other regulatory/statutory approvals, as may be required. EGM/ Postal Ballot Notice shall be sent in due course of time."

Remedium Lifecare Shares Traded Ex-Bonus On July 6: Remedium Lifecare Limited set the Record date as Saturday, 06th July, 2024 for Bonus Equity shares in the ratio of3:1.

Remedium Lifecare Share Performance & Return: The 52-week high price of Remedium Lifecare shares on BSE is Rs 44.92 apiece (as on 02/08/2023) and 52-week low price is Rs 14.63 apiece (as on 27/06/2023), respectively. Remedium Lifecare share gained 18% and zoomed 1882% in last 3-years. In last 5-years, Remedium Lifecare shares surged 10,583%.

Remedium Lifecare Latest Acquisition: As per the BSE filing of the company dated March 7, 2024, "Board of Directors of the Company at its meeting proposed to acquire a Manufacturing Facility in Hyderabad situated at Phase 2, Survey No.10, Gaddapotharam Industrial Area, Jinnaram Mandal, Medak, Sangareddy District, Hyderabad-502319, Telangana, India. having an area of 130680 square feet. The unit is well equipped to produce Intermediates for the Pharmaceutical Industry. The plan, post the successful acquisition is to set up an ultramodern Solvent Recovery Plant for third party purposes."

Remedium Lifecare Stock Split In 2024: The company's Board approved and recommended for Sub-division of Company's 1 (One) Equity Share of Face Value of Rs. 5/- each into 5 (Five) Equity Shares of Face Value of Re. 1/- each. The company fixed February 23, 2024 as the record date.

Remedium Lifecare About: It is a leading pharmaceutical company aligned across two business verticals viz. Products and Services. Its products business comprises trading and sale of APIs and Intermediates to innovator and generic pharmaceutical players in both Domestic and International markets including the regulated markets, according to its official website.

Disclaimer:

The stock highlights bonus share allotment update and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.