Torrent Pharma Board Approves Rs 12,500 Crore Fundraise Via Issue Of Securities

Torrent Pharmaceuticals on Monday said its board has approved to raise up to Rs 12,500 crore via issue of securities on a private placement basis.

The Securities Transfer and Stakeholders Relationship Committee has at its meeting held on Monday approved the issuance of secured, rated, listed, redeemable non-convertible debentures aggregating up to Rs 12,500 crore in one or more tranches on a private placement basis, the drug firm said in a regulatory filing.

Last year in June, Torrent Pharma said it will a majority stake in J B Chemicals and Pharmaceuticals in a Rs 19,500-crore deal.

Shares of the company on Monday ended 0.25% down at Rs 3,875.10 apiece on the BSE.