Wockhardt Ltds board has approved a proposal to raise up to Rs 1,000 cr through a rights issue.
The objective of the issue is to meet the company’s financing needs for repayment of subordinated debt due, financing research and development initiatives and general corporate purposes, among others, permitted by law.
The board of directors in its meeting approved the issue of equity shares by way of a rights issue to the existing shareholders of the company for an amount not exceeding Rs 1,000 cr.
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