Drug firm Wockhardt has received its shareholders’ nod to raise up to Rs 1,000 crore via issue of securities. The company earlier sought shareholders’ approval through postal ballot for raising additional capital by way of one or more public or private offerings including through a Qualified Institutional Placement (QIP) to investors through issuance of equity shares or other eligible securities. The said special resolution has been approved by the members of the company with requisite majority.
Wockhardt is one of the few companies with end to end integrated capabilities for its products, starting with the manufacture of the oral and sterile API’s, the dose forms and marketing through wholly owned subsidiary in the US, enabling the company to capture maximum value.
