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Alembic Pharmaceuticals’ board has approved a proposal to raise up to Rs 300 crore through issuance of non-convertible debentures (NCDs) on a private placement basis. The board of directors has also approved constituting an NCD committee for issuance and allotment of NCDs, Alembic Pharma said in a filing to BSE today.
The company however did not mention what it plans to do with the funds raised through NCDs. Shares of Alembic Pharma ended down by 1.6 per cent at Rs 628.45 on the BSE.
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