Board of Strides Arcolab approves proposal for raising long term funds

Up to Rs 1500 crore

Strides Arcolab announced that the Board of Directors of the Company have approved the proposal to raise long term funds by way of issue of GDRs/ ADRs/ FCCBs/ QIP or such other equity linked instruments as may be permissible for an amount upto Rs. 1,500 crore including a green shoe option.

The fund raising is subject to shareholders' approval and such other statutory approvals as may be required including that of Foreign Investment Promotion Board.

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