Strides plans to raise Rs 1,500 crore

September 29, 2015 | Tuesday | News | By BioSpectrum Bureau

Strides plans to raise Rs 1,500 crore

The fund raising is subject to shareholders' approval

In a BSE filing, Strides Arcolab said, "The Board of Directors of the Company have approved the proposal to raise long term funds by way of issue of GDRs/ ADRs/ FCCBs/ QIP or such other equity linked instruments as may be permissible for an amount upto Rs 1,500 crore including a green shoe option."

The fund raising is subject to shareholders' approval and such other statutory approvals as may be required including that of Foreign Investment Promotion Board, the company added.