Wockhardt has got the approval from its shareholders to raise up to Rs 1,200 crore through issuing NCDs on a private placement basis.

Wockhardt has said in a BSE filing that the company had sought approval from the stakeholders’ for issuance of non convertible debentures (NCDs) up to Rs 1,200 crore on private placement basis in one or more tranches.

The resolution says that the “Consent of the company…. is hereby accorded to the Board of Directors….to offer, issue and allot secured/unsecured redeemable non-convertible debentures (NCDs) on a private placement basis in one or more series/tranches, up to an aggregate amount not exceeding Rs 1,200 crore.”

Wockhardt has said that the resolution had been passed with requisite majority.

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