Aarey Drugs & Pharmaceuticals has received an approval for raising of funds by way of issuance of equity shares of the company, at such terms and conditions as the Board may deem fit, by way of Qualified Institutions Placement (QIP) for an aggregate amount not exceeding Rs 30 crore and/ or warrants convertible in to equity shares of Rs 10 each, aggregating up to Rs 10 crore on Preferential Basis to Promoters/Non Promoter Group. The Board of Directors of the company at its meeting held on December 15, 2017, approved the same.
Aarey Drugs & Pharmaceuticals is engaged in the manufacturing of drugs and intermediates such as metronidazole, metronidazole benzoate, methyl, and nitro imidazole. The company is based in Thane, India.
