Advertisement
Thursday, Sep 29, 2022
Outlook.com
Outlook.com

Wockhardt Ltd To Raise Rs 1,000 Crore Via Rights Issue

The objective of the issue is to meet the company's financing needs for repayment of subordinated debt due, financing research and development initiatives and general corporate purposes, among others, permitted by law.

Wockhardt Ltd To Raise Rs 1,000 Crore Via Rights Issue
Wockhardt Ltd To Raise Rs 1,000 Crore Via Rights Issue
outlookindia.com
2022-01-06T15:09:58+05:30

Pharmaceuticals firm Wockhardt Ltd on Thursday said its board has approved a proposal to raise up to Rs 1,000 crore through a rights issue.

The objective of the issue is to meet the company's financing needs for repayment of subordinated debt due, financing research and development initiatives and general corporate purposes, among others, permitted by law, Wockhardt Ltd said in a regulatory filing.

The board of directors in its meeting held on Thursday considered and approved the issue of equity shares by way of a rights issue to the existing shareholders of the company for an amount not exceeding Rs 1,000 crore, it added.

Wockhardt further said its board has also authorised the Capital Raising Committee to decide on the terms and conditions of the issue, including the rights entitlement ratio, the issue price, record date, timing of the issue and other related matters.

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

In happy times and sad, Habba Khatun’s sensuous songs make both young and old emotional. With the never-ending conflict bringing tragedies to every doorstep, Habba’s lyrics of separation amplify their mourning.

How Indian Laws Govern People’s Right To Love And Live

How Indian Laws Govern People’s Right To Love And Live

In India, only those relationships between a man and a woman are considered to be legitimate when there is a marriage between the two.

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Virat Kohli, 33, had recently stepped down as India's T20I captain and was subsequently removed as the ODI captain.

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

A Mahila Congress leader, who is the face of the ‘Ladki Hoon, Lad Sakti Hoon’ campaign, however, has accused the party of anti-women bias after she was denied a ticket.

Advertisement