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Aanjaneya Lifecare plans to issue $75 million convertible bonds
By Ashley Montgomery
Kansas City, Kan., April 2 - Aanjaneya Lifecare Ltd. informed the Bombay Stock Exchange that its board of directors approved a $75 million offering of foreign currency convertible bonds.
The issuance will be made to qualified institutional buyers through a qualified institutional placement.
The bonds will be issued in tranches, with the first tranche amounting to $25 million.
The company intends to use the proceeds of the first tranche to fund ongoing capital expenditures and potential acquisitions.
Aanjaneya Lifecare is a pharmaceutical company based in Mumbai.
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