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Alembic Pharma’s approves NCDs up to Rs 300 crore

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The company, which did not specify the reasons for raising funds, said it will issue NCDs in one or more tranches

Drug firm Alembic Pharmaceuticals said its board has approved raising of up to Rs 300 crore through issuance of non-convertible debentures (NCDs) on a private placement basis.

The company, which did not specify the reasons for raising funds, said it will issue NCDs in one or more tranches.

“The board of directors of Alembic has approved the issue of unsecured listed rated redeemable non-convertible debentures (NCDs) of up to Rs 300 crore on a private placement basis,” the company said in a regulatory filing.

Shares of Alembic Pharmaceuticals were trading 0.03 percent higher at Rs 502.20 apiece on the BSE.

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