Latest News | Morepen Laboratories Gets Board Nod to Raise Up to Rs 350 Cr

New Delhi, Feb 22 (PTI) Morepen Laboratories on Thursday said its board has approved to raise up to Rs 350 crore via issue of securities.

The company's board has approved to raise funds by way of issuance of equity shares, convertible preference shares or debentures or other means through one or more qualified institutions placement for an aggregate amount not exceeding Rs 350 crore, the drug firm said in a regulatory filing.

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The board has also approved convening an extraordinary general meeting to seek shareholders' approval, it added.

Shares of the company on Thursday ended 0.19 per cent down at Rs 53.10 apiece on the BSE.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)