June 17, 2015 / 11:12 AM IST
Moneycontrol Bureau
The share price of
Opto Circuits rose more that 5 percent Wednesday as the company has approved the fund raising plan.
The medical equipment maker has opened its Global Depository Receipts (GDR) issue on June 16.
The board had approved fund raising upto USD 250 million on May 6, 2014 via ADR/GDR/conversion of bonds/ warrants. The company is possibly looking at fund raising to ease debt and working capital concerns.
Additionally, CARE Ratings in its report dated June 16 said India’s medical device market is valued at around USD 5 billion in 2015.
According to the report, it is expected to grow at a compounded annual growth rate (CAGR) of around 15 percent on the back of India’s rising income levels, swelling private-sector investment in healthcare, ageing population, growing medical tourism industry, and government’s commitment to provide healthcare services at reasonable cost to both rural and urban population.
At 10:56 hrs Opto Circuits India was quoting at Rs 19.40, up Rs 0.95, or 5.15 percent on the BSE.
Posted by Rakesh Patil
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