Wockhardt to raise $800mn to fund overseas acquisitions

Wockhardt will raise up to $800mn (Rs.37bn), in one or more tranches, to fund overseas acquisitions through an issue of equity-related securities. It will also hike the FII cap in the company to 49%. Shareholders also approved appointment of Mr Huzaifa Khorakiwala (heading the global animal healthcare business and corporate administration) and Dr. Murtaza Khorakiwala (in charge of global biotech and API businesses) as Executive Directors of the company.

Source : Equity Bulls

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