Bafna Pharmaceuticals proposes to raise funds

Bafna Pharmaceuticals today said it is looking to raise funds from various modes and is also in early stages of negotiations.

"We wish to inform you that the company has been looking for raising money from various modes. In the normal course of business some negotiations are taking place which are at primitive stage.", Bafna Pharmaceuticals said in a BSE filing.

"We will keep the stock exchanges informed as and when things take shape", it said.

The city-based company also termed some news reports on two Indian companies eyeing Bafna Pharmaceuticals as "speculative".

"The news report appearing in the section of media regarding Bafna Pharma are speculative. The company has a policy of desisting to comment on any speculations", it added.

Shares of the company closed flat at Rs 30.20 apiece on BSE today.