Board Of Cadila Healthcare Approves Fund Raising

Cadila Healthcare Limited announced that its board of directors has approved in-principle to raise funds by issue of equity shares/ convertible bonds/debentures through qualified institutional placement (QIP)/ global depository receipts (GDR)/American depository receipts (ADR), for an aggregate amount up to Rs 10,000 crore.

The board also approved to issue secured/ unsecured redeemable non-convertible debentures/ foreign currency bonds on private placement basis for an amount up to Rs 3,500 crore in the FY18. Further, the board also approved to issue foreign currency bond/foreign currency convertible bonds for an amount up to Rs 5,000.

Cadila Healthcare Limited was trading at Rs 530.70, up by Rs 5.60 or 1.07% as at 1100 hours, on Tuesday, on the BSE.

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