Strides Arcolab to raise up to Rs 1,500 cr

By: |
September 28, 2015 3:36 PM

The funds will be raised by way of issue of GDRs/ADRs /FCCBs/QIP or such other equity linked instruments Strides Arcolab plans to raise Rs 1500 crore through various market instruments “The Board of Directors of the company have approved the proposal to raise long-term funds by way of issue of GDRs/ADRs /FCCBs/QIP or such other […]

The funds will be raised by way of issue of GDRs/ADRs /FCCBs/QIP or such other equity linked instruments

Strides Arcolab plans to raise Rs 1500 crore through various market instruments

“The Board of Directors of the company have approved the proposal to raise long-term funds by way of issue of GDRs/ADRs /FCCBs/QIP or such other equity linked instruments as may be permissible for an amount up to Rs 1,500 crore including a green shoe option,” Strides Arcolab said in a filing to the Bombay Stock Exchange (BSE) .
It added, “The fund raising is subject to shareholders’ approval and such other statutory approvals as may be required including that of Foreign Investment Promotion Board.”

Shares of Strides Arcolab were trading at Rs 1,240.65 a piece, 0.18 per cent, on the BSE.

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