New Delhi: Big medicine firm Wockhardt Ltd. has wanted shareholders' endorsement for raising up to Rs 1,200 crore throughout issuance of non-convertible debentures (NCDs) on private placement basis. The corporation conveyed that, it will employ the money to re-pay or pre-pay term loan benefit by it and for common corporate purposes. In a report for Annual General Meeting, Wockhardt conveyed that, permission of the corporation is hereby agreement to the Board of Directors to present matter and allot secured/unsecured redeemable non-convertible debentures (NCDs) on a private placement basis in one or more series/tranches, up to an amount not exceeding Rs 1,200 crore.
The corporation further conveyed complexing that, in order to re-pay/pre-pay term loan availed by the corporation and for common corporate purposes, it is planned to issue secured/unsecured, redeemable, non-convertible debenture on private placement basis for an amount not exceeding Rs 1,200 crore in one or more tranches. Wockhardt's AGM is scheduled to be held on August 13. The stock of Wockhardt buying and selling at Rs 953.10, up 0.25%, on BSE.