Drug firm Wockhardt has received shareholders' approval to raise up to Rs 1,000 crore through equity shares or other securities.
Drug firm Wockhardt has received shareholders’ approval to raise up to Rs 1,000 crore through equity shares or other securities. The company sought approval through postal ballot for raising additional capital by way of one or more public or private offerings including through a Qualified Institutional Placement (QIP) to investors through issuance of equity shares or other eligible securities for an amount not exceeding Rs 1,000 crore, Wockhardt said in a filing to BSE. “The above special resolution has been approved by the members of the company with requisite majority,” it added. Wockhardt has three research centres and 12 manufacturing plants, with businesses ranging from the making and marketing of pharmaceuticals, active pharmaceutical ingredients (APIs) and vaccines. Shares of Wockhardt were trading at Rs 636.30 per scrip in the afternoon trade on the BSE, up 0.15 per cent from the previous close.