Sun Pharma Advanced Research Company’s (SPARC) board has approved the proposal to raise the funds by way of issuing equity shares, convertible warrants, preference shares / bonds / debentures / any other instruments whether convertible into equity or not, American Depository Receipts (ADRs), Global Depository Receipts (GDRs), Foreign Currency Convertible Bonds (FCCBs), or any other securities or combination of such Securities, in one or more tranches, by way of public / private offerings, qualified institutions placement, rights offering or any combination thereof or any other permissible mode in accordance with applicable laws, for an aggregate consideration of up to Rs 1,800 crore or in equivalent foreign currency. The Board of directors of the company at its meeting held on September 1, 2021 has considered and approved the same.
SPARC is an international pharmaceutical company engaged in research and development of drugs and delivery systems.
