According to report in PTI, Aurobindo Pharma will raise up to $350 million (Rs 2157.92 crore) by way of Qualified Institutional Placement (QIP)
Aurobindo said in a statement that, “Issue of securities – pursuant to section 62(1)(c) and other applicable provisions of the Companies Act 2013 and rules made under and other applicable Acts, rules and regulations to issue shares to Qualified Institutional Buyers under Qualified Institutional Placement up to and amount of $350 million or rupee equivalent thereof.”
The board had earlier constituted a securities issue committee comprising of five board members, including two independent directors, for issue of securities.
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