India’s Zim Laboratories board OKs Rs. 500 million debentures, loans

By Sarah Lizee

Olympia, Wash., Feb. 6 – Zim Laboratories Ltd. informed the Bombay Stock Exchange that its board of directors approved a proposal to raise funds by issue of up to Rs. 500 million redeemable nonconvertible debentures or term loans.

The debentures may be secured or unsecured and would be issued on a private placement basis.

The proposal was approved at a meeting held Wednesday, according to the notice.

Nagpur, India-based Zim Laboratories manufactures, markets and sells formulation drugs and pre-formulation ingredients.

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