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Wockhardt gets shareholders' nod for raising Rs 1,000 cr via QIP route

Drug firm mulling alternatives, including issuing securities to investors

Press Trust of India  |  New Delhi 


Drug firm has received shareholders' approval to raise up to Rs 1,000 crore through equity or other securities.

The company sought approval through postal ballot for raising additional capital by way of one or more public or private offerings including through a Qualified Institutional Placement (QIP) to investors through issuance of equity or other eligible securities for an amount not exceeding Rs 1,000 crore, said in a filing to

"The above special resolution has been approved by the members of the company with requisite majority," it added.

has three research centres and 12 manufacturing plants, with businesses ranging from the making and marketing of pharmaceuticals, active pharmaceutical ingredients (APIs) and vaccines.

of Wockhardt were trading at Rs 636.30 per scrip in the afternoon trade on the BSE, up 0.15 per cent from the previous close.

First Published: Fri, June 09 2017. 13:54 IST