Sigachi Industries zooms 19% as board plans to mull fund raising plan

The board of SIL will meet on January 10, 2023 to consider the proposal of raising funds by way of issue of equity or convertible warrants on preferential basis to the promoters and non-promoters.

Shares of Sigach Industries (SIL) soared 19 per cent to Rs 328 in Friday’s intra-day trade, after the pharmaceutical company announced board meet on January 10, 2023 to mull fund raising via preferential issue.

“The meeting of the board of directors of SIL will be held on Tuesday, the 10th day of January 2023, to consider the proposal of raising funds by way of issue of equity or convertible warrants on preferential basis to promoters and non-promoters, subject to the receipt of necessary approvals/ permissions,” the company said.

At 02:08 PM; SIL traded 17 per cent higher at