Mankind Pharma Ltd's board on September 20 approved fund raise up to Rs 10,000 crore through Non-Convertible Debentures and Commercial Papers on private placement basis.
"The board has also constituted and authorised the Fund Raising Committee to take all necessary actions including finalisation of the terms of issuance, allotment of NCDs and CPs and other related matters. Any further intimation in this connection will be submitted with the Exchanges in due course," said Mankind Pharma in a stock exchange filing.
On September 20, Mankind Pharma's shares on NSE closed 5 percent higher at Rs 2,546 apiece.
Mankind Pharma, which makes Manforce condoms and Prega News pregnancy kits, posted 10 percent rise in its consolidated net profit rose at Rs 536 crore for the quarter ended June 30.
Revenue from operations rose about 12 percent to Rs 2,893 crore, but expenses rose 15.5 percent.
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