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Lupin on Tuesday said its board has given in-principle nod for raising funds of up to Rs 7,500 crore.
“The board at their meeting on June 22, approved in principle the raising of funds up to Rs 75,000 million through issue of Securities i.e., equity shares, global depository receipts, American depositary receipts, convertible bonds, equity linked instruments, etc,” it said.
Enabling approval of the shareholders to the above will be sought at the Annual General Meeting scheduled for July 23, 2015, it added.
The filing, however, did not disclose the purpose of raising the funds.
Shares of Lupin were trading at Rs 1,790.15, down 1.16% from its previous close on BSE.
