The first phase of the expansion plan of Vimta Labs at Genome Valley is nearing completion and trial operations are set to commence during February 2006. The formal inauguration is expected during March 2006.
In order to fund the second phase of the expansion plan and inorganic growth, the company's Board decided to raise funds up to Rs 125 crore from private, domestic and international investors through the issue of equity shares or GDR/ADR/Warrants convertible into equity shares, subject to shareholders approval.
It has also decided to split the existing equity shares of the face value of Rs 10 each into five equity shares of Rs 2 each, subject to shareholders approval.