Dr. Datsons Labs (Aanjaneya Lifecare Ltd): Some News

(i) It is planning to raise $25 million: Dr. Datsons Labs Ltd. is planning to raise up to $25 million (Rs 149 crore) through issue of global depository receipts or American depository receipts or foreign currency convertible bonds or equity shares to non promoters of the company including QIB and QIP. The company approved and finalized the notice of postal ballot.

(ii) Mires B.V ("Proposed Acquirer") completed the valuation of the two plants of Dr.Datsons Labs Ltd situated at Mahad and Pune. The Total Fair Valuation of the Company as stood at Rs.350 Crores out which valuation of the fixed assets of the company stood at Rs.270 Crores. 

(iii) The net loss in the fourth-quarter of Dr Datsons Labs Ltd narrowed to Rs.6.16 crore from Rs.38.17 crore however the revenues tumbled 71.9% to Rs 20.79 crore.

(iv) The Board of Directors of Dr.Datsons Labs Ltd at its meeting held on May 15, 2014, has approved the issue of 1,10,55,720 equity shares consequent to the conversion notice(s) received from the Bondholders for conversion of the Foreign Currency Convertible Bonds ("FCCB") for total value of US$ 11.20 million at a conversion price of Rs. 55 per share, in accordance with the terms of the Offering Circular dated March 21, 2013 for issue of USS 40 million unsecured foreign currency convertible bonds and the Supplemental Trust Deed dated February 21, 2014, to the bondholders.

(v) Decided to open Representative office in USA and Canada for handling the sale of herbal patented lozenges.

(vi) The Company's Liability for unsecured loan has reduced in tune of US$ 36.50 Million by way conversion of Foreign Currency Convertible Bonds ("FCCB") into Equity shares of the company. Therefore, the Liability of the Company is extinguished and this Improves the DEBT EQUITY RATIO of the Company.