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Alembic Pharmaceuticals plans to raise up to Rs 500 crore by issuing non-convertible debentures (NCDs) on a private placement basis.
The company’s board of directors has approved the issue of unsecured listed redeemable NCDs of up to Rs 500 crore on a private placement basis under a shelf disclosure document in multiple tranches, Alembic Pharmaceuticals said in a filing to the BSE today.
The board has also constituted a NCD Committee for issue and allotment of NCDs. The company, however, did not disclose what it intends to do with the money. Shares of Alembic Pharmaceuticals were trading at Rs 615.90 per scrip on the BSE, down 2.05 per cent, from their previous close.
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