Drug Firm Cipla has revealed a statement that the company will lift Rs 6.75 billion through QIP issue. 

The official committee of directors of the company has decided to close the bid period and has sanctioned issuance of 2, 56, 30,000 equity shares of Rs 2 each at a price cost of Rs 263.75 a equity share in the QIP issue.

The company deals in the production of different drugs like antibiotics, anti-bacterial, anti-asthmatics, anthelmintics, anti-ulcerants, oncology, corticosteroids, nutritional supplements and cardiovascular drugs.

Cipla is the first in Asia to introduce non-CFC metered dose inhaler. With the announcement of QIP issue, share of the company also gained some profit in the market. 

Shares of Cipla raised Rs 4.5, or 1.74% to trade at Rs 263.50.