Aurobindo Pharma Ltd approves raising of funds upto $350 million

The Board of Directors of Aurobindo Pharma Ltd at its Meeting held on November 25, 2014, has considered and approved raising of the funds by the Company through Issue of Securities upto an amount of USD 350 Million or Rupee equivalent thereof through follow on offer, qualified institutions placement, further public offer and / or private placement or by such other method subject to approval of the shareholders.

The Board has constituted a Securities Issue Committee consisting five Board Members including two Independent Directors, to do all such acts, deeds, matters and things as may be required for Issue of Securities as they may deem fit in accordance with the applicable laws.

Shares of AUROBINDO PHARMA LTD. was last trading in BSE at Rs.1110.45 as compared to the previous close of Rs. 1118.35. The total number of shares traded during the day was 144821 in over 6870 trades.

The stock hit an intraday high of Rs. 1133.6 and intraday low of 1083.65. The net turnover during the day was Rs. 160039629.

Source : Equity Bulls

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