Jubilant Organosys, a Noida-based pharmaceutical industry, plans to raise around Rs 500 crore through the issue of equity. The board of directors has approved the same in its meeting recently.
The board also approved hiving off its two arms, application polymers division and consumer products division, said the company in a statement.
The revenue of the company was Rs 3,518 crore in FY 2009, 41% up compared to over Rs 2,488 crore last year. Net profit was Rs 283.2 crore compared to Rs 297.4 crore.
The shares of the company were traded at Rs 210.9, down by Rs 10.15 or 4.59% at the close of the stock market.