Ind Swift Laboratories (ISLL), a global pharmaceutical company has received its shareholders’ approval to raise funds up to Rs 500 crore through issue of securities. The company will raise the funds through issue of Global Depositary Receipts (GDRs), Foreign Currency Convertible Bonds (FCCBs) and Convertible Bonds. However, the company did not provide a time line for raising the funds.
Further, the members have also approved declaration of dividend of Re 1 per share of face value of Rs 10 each for the financial year 2010-11.
Recently, the company got Therapeutic Goods Administration (TGA) approval from Australia for seven of its APIs - Donepezil HCI, Clarithromycin, Letrozole, Pioglitazone HCI, Ropinirole, Acamprosate and Aripiprazole to be manufactured at its facility at Derabassi.
Ind-Swift Laboratories is a part of the Ind-swift Group and is based at Chandigarh, India. The company is engaged in manufacturing of Active Pharmaceutical Ingredients (API).
