Torrent Pharma gets shareholder nod to raise up to Rs 5,000 cr

Torrent Pharmaceuticals on Monday said it has received shareholders' nod to raise up to Rs 5,000 crore through various instruments, including qualified institutional placement (QIP)

In a filing to the BSE, the company said around 99.299 per cent votes were cast in favour of "issuance of equity shares including convertible bonds/debentures through QIP and/or depository receipts or any other modes for an amount not exceeding Rs 5,000 crore." The approval of the shareholders was sought by way of special resolution through a postal ballot, the filing said.