Wockhardt gets shareholders' nod to raise up to Rs 1,200 crore

Drug firm Wockhardt today said its shareholders have approved raising of up to Rs 1,200 crore by issuance of non-convertible debentures (NCDs) on private placement basis.

The special resolution seeking approval of the shareholders for the issuance of NCDs up to Rs 1,200 crore on private placement basis was passed with 99.72 percent of votes polled favoring the resolution, Wockhardt said in a filing to the BSE.

The resolution sought the consent of the members of the company to be accorded to the Board of Directors ... to offer, issue and allot secured/unsecured redeemable non-convertible debentures on private placement basis in one or more tranches, up to an aggregate amount not exceeding Rs 1,200 crore..., it added.

Shares of Wockhardt today closed at Rs 664.95 per scrip on BSE, up 3.24 percent from its previous close.

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