Suven Life board approves raising up to $100 million convertible funds

By Tali Rackner

Norfolk, Va., Sept. 22 – Suven Life Sciences Ltd. informed the Bombay Stock Exchange that its board of directors met on Monday and approved raising funds of up to $100 million or its equivalent of any other foreign/Indian currencies by way of issue of securities to QIPs, foreign-currency convertibles or other modes.

The board has convened an extraordinary general meeting of the members to be held on Oct. 21 for approval.

Suven Life Sciences is a Hyderabad, India-based pharmaceutical company.

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