Biotechnology firm Transgene Biotek today said it will raise up to Rs 500 crore through various domestic and international fund raising instruments.
The company's board, at its meeting held on September 30, has decided to raise Rs 500 crore through various domestic and international fund raising instruments, including foreign currency convertible bonds (FCCBs), global depository receipts (GDRs) and American depository receipts (ADRs), Transgene Biotek said in a filing to Bombay Stock Exchange (BSE).
The fund raising would be subject to the approval of shareholders, it added.
The board also decided to increase the authorised capital of the company to Rs 75 crore from the present Rs 20 crore.
Shares of Transgene Biotek were today trading at Rs 59 on the BSE in late afternoon trade, up 3.69 per cent from its previous close.
