Aurobindo Pharma gets shareholders' nod to raise up to $600 mn

Aurobindo Pharma today said it has received shareholders' nod to raise up to USD 600 million (around Rs 3,974 crore) via issue of securities.

By an overwhelming majority of 99.98 per cent they have voted in favour of the special resolution to issue securities up to USD 600 million or it's equivalent in the rupee, Aurobindo Pharma said in a filing to BSE.

Only 0.02 per cent votes were against the resolution, it added.

In a filing to the bourses last month, the company had proposed that its board be authorised by way of an enabling resolution to raise funds to facilitate and meet the additional capital expenditure requirements for the ongoing and future projects of the company and its subsidiaries subject to shareholders approval.
 

Aurobindo Pharma stock closed at Rs 871.25, up 0.30 per cent, on the BSE.