Lupin is planning to raise around Rs 7,500 crore through various instruments either in domestic or overseas market or both. An enabling resolution seeking shareholders' nod for the fund-raising move will be placed at the forthcoming AGM next month.
The company’s board at its meeting on June 22 gave its approval in principle for raising of funds up to Rs 7500 crore by way of issue of securities i.e., equity shares, GDRs, ADRs, convertible bonds, equity linked instruments, etc. as may be appropriate. The enabling approval of the shareholders will be sought at the AGM to be held on July 23.
Lupin is an innovation led transnational pharmaceutical company producing and developing a wide range of branded & generic formulations, APIs and biotechnology products.
