Piramal Healthcare okays Rs 1K cr fund raising

Drug maker Piramal Healthcare today said its board has approved the raising of funds up to Rs 1,000 crore through the issue of securities.

The board, at its meeting held today, has given approval "for raising funds up to an amount of Rs 1,000 crore through an issue of equity or equity-linked securities," Piramal Healthcare said in a filing to the Bombay Stock Exchange.

The committee of directors (of board) has been empowered to take a final decision on the pricing, mode and manner of raising such funds, it said.

Shares of Piramal Healthcare were trading at Rs 400.10 on the BSE, down 3.47 per cent from its previous close.