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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (10190)	12/21/1999 4:39:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Promoters to place 10 per cent Lupin Labs pie with foreign funds lupingroup.com (Wednesday, December 22, 1999) Pradipta Bagchi & Gauri Kamath in Mumbai The Guptas, promoters of the Rs 715-crore Lupin Laboratories, have decided to privately place part of their stake with foreign institutional investors at Rs 470 per share. The placement is of up to 10 per cent of the equity of the company. The Guptas hold close to 80 per cent in Lupin Labs. The deal has been structured by the city-based merchant banker SSKI. The funds are to be used to retire the company's debt. The company as per the last annual report had an issued, subscribed, paid-up equity capital of Rs 31 crore. Lupin's total loan funds stood at Rs 525.97 crore, according to this report.