Torrent Pharmaceuticals has received an approval for the issuance of equity shares including Convertible Bonds/ Debentures through Qualified Institutional Placement (QIP) and/or Depository Receipts or any other modes for an amount not exceeding Rs 5000 crore. The board of directors of the company at their meeting held on January 25, 2018, approved the same.
The Board also approved the enhancement of borrowing limits from Rs 10,000 crore to Rs 15,000 crore.
Torrent Pharmaceuticals is Flagship Company of the Torrent group, a leader in cardiovascular and central nervous system segments. It also has presence in gastro-intestinal, diabetology, anti-infective and pain management segments.
