India’s Aurobindo board approves up to $600 million of convertibles

By Tali Rackner

Norfolk, Va., Nov. 6 – Aurobindo Pharma Ltd. informed the Bombay Stock Exchange that its board of directors met on Friday and approved a proposal to raise funds of up to $600 million or the rupee-equivalent.

The debentures will be through equity notes, Global Depositary Receipts, American Depositary Receipts, foreign-currency convertible bonds or any other equity-related instruments.

The issue will be sent to shareholders for approval via postal ballot.

Aurobindo is a pharmaceutical company located in Hyderabad, India.

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