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Natco Pharma has received approval from board to raise Rs.1,500 crore via sale of shares to investors.
In a filing to the exchange it stated, “Raising funds through further issue of shares or convertible securities of any nature through one or more modes, including but not limited to a further public and private offerings, rights issue, qualified institutional placement, issue of american depository receipts or global depository receipts etc, subject to such approvals as may be required up to an amount not exceeding Rs 15,000 million.”
Further it stated that, on November 29 it has arranged an extraordinary general meeting for its shareholders to affirm the proposal of fund raising.
