Sun Pharma Advanced Research Company (SPARC) has received Securities and Exchange Board of India’s (Sebi’s) approval to raise up to Rs 250 crore through a rights issue. The company, which filed draft papers on September 18, 2015 seeking clearance from the markets regulator to raise funds through a rights issue, obtained the approval on January 22, 2016. The company will issue equity shares ‘aggregating up to Rs 25000 lakh to its existing equity shareholders on a rights basis. In a rights issue, shares are issued to existing investors as per their holding at a pre-determined price and ratio.
Sun Pharma Advanced Research Company is an international pharmaceutical company engaged in research and development of drugs and delivery systems.
