Latest News | SPARC Seeks Shareholders Nod to Raise Up to Rs 1,800 Cr
Get latest articles and stories on Latest News at LatestLY. Sun Pharma Advanced Research Company (SPARC) on Wednesday said it will seek shareholders' approval to raise up to Rs 1,800 crore through various modes, including issue of equity shares and securities.
New Delhi, Sep 1 (PTI) Sun Pharma Advanced Research Company (SPARC) on Wednesday said it will seek shareholders' approval to raise up to Rs 1,800 crore through various modes, including issue of equity shares and securities.
The company proposes to raise the funds in one or more tranches, by way of public / private offerings, qualified institutional placement, rights offering or any other permissible mode, SPARC said in a regulatory filing.
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The approval is being sought for raising funds for an aggregate consideration of up to Rs 1,800 crore or in equivalent foreign currency, SPARC said.
The company seeks shareholders' nod to raise the funds by way of issuing equity shares, convertible warrants, preference shares/ bonds /debentures /any other instruments whether convertible into equity or not, American Depository Receipts, Global Depository Receipts, Foreign Currency Convertible Bonds.
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Shares of SPARC settled at Rs 302.45 per scrip on BSE, up 0.75 per cent from its previous close.
(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)