India’s Strides Arcolab to issue up to Rs. 15 billion of convertibles

By Tali Rackner

Norfolk, Va., Sept. 28 – Strides Arcolab Ltd. informed the Bombay Stock Exchange that its board of directors approved a proposal to issue up to Rs. 15 billion of long-term funds, including an over-allotment option.

The securities will be issued by way of foreign currency convertible bonds, Global Depositary Receipts, American Depositary Receipts or other equity-linked instruments.

The fundraising is subject to shareholder approval.

Strides Arcolab is a Bangalore, India-based pharmaceutical manufacturing company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.