Cipla seeks shareholders nod to raise Rs 4,000 cr

Drug major Cipla today decided to seek shareholders approval to raise up to Rs 4,000 crore via issue of securities in both domestic and global markets.
The company's board has approved raising funds up to Rs 2,000 crore, Cipla Ltd said in a regulatory filing.
It could be via issue of shares or American Depository Receipts (ADRs) or Global Depository Receipts (GDRs) or Foreign Currency Convertible Bonds (FCCBs) or other securities, whether denominated in rupee or foreign currency through a public issue or a private placement, it said.
The board also approved raising of funds up to Rs 2,000 crore by issue of non convertible debentures (NCDs) or bonds, in rupee or foreign currency, it added.

The fund raising is subject to necessary permissions sanctions and approvals and the company is seeking approval of shareholders for the aforesaid enabling resolutions by means of postal ballot, the company said.
Cipla shares closed 0.43 per cent up at Rs 568.45 on BSE.