Shilpa Pharma Lifesciences Ltd to file for IPO

The Board of directors of Shilpa Medicare Ltd at its meeting held today i.e., on 23 May 2022 has received a proposal from Shilpa Pharma Lifesciences Limited to consider fund raising for payment of Slump Sale consideration apart from financing its own working capital requirements & further expansion through an Initial Public Offer. The Board has unanimously decided to let Shilpa Pharma Lifesciences Limited fund its sources through an Initial Public Offer including an option to provide an offer for sale by the Company. Board has requested them to file the DRHP and all related documents with SEBI for initiating the said offer.

Shares of Shilpa Medicare Limited was last trading in BSE at Rs. 410.30 as compared to the previous close of Rs. 421.45. The total number of shares traded during the day was 1603 in over 264 trades.

The stock hit an intraday high of Rs. 421.10 and intraday low of 408.05. The net turnover during the day was Rs. 662229.00.