Torrent to raise Rs 692 cr from markets

Torrent Pharmaceuticals plans to raise over Rs 692 crore ($150 million) from international or domestic market through the issue of foreign currency convertible FCCBs or other securities.

The company today said the AGM held in July had accorded authority to the board to raise the funds through the issue of FCCBs, convertible debentures, equity shares or other securities on a private placement or preferential allotment basis, with a green shoe option of upto 15% of the issue.

A borrowing limit of Rs 1500 crore had also been approved by the shareholders at the meeting, the company informed the Bombay Stock Exchange today.