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Wockhardt board meet today; likely to consider various fund raising options

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Wockhardt board meet today; likely to consider various fund raising options

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The Wockhardt board will be meeting on Thursday to consider fundraising options. The company is in process of evaluating, negotiating various fundraising options, this includes an issue of shares. Negotiations are at the initial stages and if the negotiations are found feasible, they will be subject to board approval before finalisation.

The Wockhardt board will be meeting on Thursday to consider fundraising options. This is important because, in October of 2021, the company had clarified to exchanges on reports of a possible stake sale by Wockhardt.
The company is in process of evaluating, negotiating various fundraising options, this includes an issue of shares. Negotiations are at the initial stages and if the negotiations are found feasible, they will be subject to board approval before finalisation.
The stock has been quite an underperformer. It is down over 40 percent from its 52 week high of around Rs 800 plus, it is down over 20 percent in the past six months and over 15 percent from that clarification, which is submitted to the exchanges in October.
Watch the accompanying video of CNBC-TV18’s Ekta Batra for more details.
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