Drug firm Alembic Pharmaceuticals on Wednesday said its board has approved raising of up to Rs 300 crore through issuance of non-convertible debentures (NCDs) on a private placement basis. The company, which did not specify the reasons for raising funds, said it will issue NCDs in one or more tranches.
“The board of directors of Alembic Pharmaceuticals Ltd....has approved the issue of unsecured listed rated redeemable non-convertible debentures (NCDs) of up to Rs 300 crore on a private placement basis,” the company said in a regulatory filing.
Shares of Alembic Pharmaceuticals were trading 0.03 per cent higher at Rs 502.20 apiece on the BSE.
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.