Comments
Aurobindo Pharma Ltd will be raising about Rs 2,000 crore through issue of securities to fund its growth and expansion plans.
The board of directors of the Hyderabad-based company has approved the issue of capital to raise $350 million, the company informed the Bombay Stock Exchange. Any available channels, including qualified institutional placement and a follow-on offer, could be deployed for the purpose.
To look into the modalities, Aurobindo has formed a securities issue committee consisting of five members, including independent directors.
Its scrip lost 2.92 per cent on the Bombay Stock Exchange on Wednesday and is trading at Rs 1,078.05 after the opening of trade.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.